Bitcoin miner margins fall to record low: Will BTC’s $60K floor hold?
Bitcoin miner profits recently fell to record lows, while Bitcoin struggles to hold the $60,000 floor. Should traders be worried?
Key takeaways:
Bitcoin’s price slide to $62,000 was paired with weak on-chain activity and declining BTC miner revenues, which have fallen to an all-time low. This revenue drop is fueling investor anxiety over potential sell pressure, especially since miners and mining pools still control over $110 billion in Bitcoin.
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