Bitcoin Has Spent 280 Days Below JPMorgan's $85K Mining Cost Estimate, KuCoin Says
- —Bitcoin has stayed below JPMorgan's $85K cost estimate for 280 straight days
- —Network hashrate is down roughly 19% since October
- —JPMorgan calls $85,000 a 'soft floor' for miners
- —Part of the recent rally came from short-covering
Why it matters: Holding above $85,000 would curb forced miner selling, while a break below could add further downside pressure.
Source: Coinfomania