Bitcoin Cost-Of-Production Signal Raises Miner Stress Question As BTC Holds Support
Bitcoin is back near the low-$60,000 zone, reviving debate over whether it is trading near or below estimated miner production costs. That matters because prices near production cost have historically signaled miner stress, possible reserve selling, and late-bear-market conditions rather than an early bear-market phase. The exact threshold is uncertain because production-cost estimates depend on assumptions like energy prices and mining efficiency. The chart is not fully bearish: BTC is holding a major support/demand area around $60,000–$62,000 after a sharp drop and a possible liquidity sweep. If that zone continues to hold, it could form a durable reaction base. If it breaks, miner stress and leveraged selling could intensify downside pressure. A stronger bullish signal would require reclaiming resistance and showing real demand, not just a pause in selling.
