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In the last 48 hours, Bitcoin production cost has been approximately $85,000, and btc price is hovering around the same production level. Keep in mind that the production cost level is important for Bitcoin and miners!
Bitcoin is currently trading $2.5k below its production cost level, which could put pressure on miners or the risk of miner capitulation. Btc needs to reclaim its production cost level quickly. If it does, we’re in a safer zone otherwise, miners could come under pressure.
✅ This Is The Reality We Can’t Ignore | Have We Entered A Bear Market !?
https://youtu.be/0VO93B3OGBI
https://youtu.be/0VO93B3OGBI
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✅ This Is The Reality We Can’t Ignore | Have We Entered A Bear Market !?
✅ This Is The Reality We Can’t Ignore | Have We Entered A Bear Market !?
https://youtu.be/tlp9iRYLU4s?si=eXcXxmndzw0r8p0C
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https://youtu.be/tlp9iRYLU4s?si=eXcXxmndzw0r8p0C
Telegram - https://telegram.dog/cryptoztelegram
TWITTER- https://twitter.com/gaurav15706
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Right after the U.S. market opened, the stock market dropped by 4%, while gold surged by 2.5%
If the RSI officially breaks to the downside, then you can say it’s over. But before remember that Rsi is still moving above its important level.