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Bitcoin crossing its estimated $85,000 production cost may ease miner selling

JPMorgan analysts said the relief would hinge on whether bitcoin stays above that $85,000 level.

Reported · Written up by our desk · Bitcoin

JPMorgan analysts said bitcoin moving above its estimated $85,000 production cost could ease selling pressure from miners, depending on whether the move is sustained, according to The Block.

The bank’s point is that a sustained trade above that cost level can reduce the incentive for miners to sell to cover production expenses.

Latest closeBitcoin $84,460.11 ▲0.1%

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Sources

The BlockJPMorgan says bitcoin crossing $85,000 production cost could ease miner selling pressure

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