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via CoinDesk · By CoinDesk Staff

Bitcoin miners near breakeven as network reacts more sharply to price swings: JPMorgan

BTC

BTC/USDT

$62,414.55

-2.75%

$62,414.55

-2.75%

(24s)

24h Volume

$20,632,605,328.84

24h H/L

$65,622.83 / $61,938.00

Change: $3,684.83 (5.95%)

Long/Short

67.3%

Long: 67.3%Short: 32.7%

Funding Rate

-0.0058%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$62,642.00

▼ -2.15%

Volume (24h): -

Resistance Levels

Resistance 3$68,191.60

Resistance 2$65,569.14

Resistance 1$63,820.64

Price$62,642.00

Support 1$61,834.89

Support 2$60,586.97

Support 3$59,130.91

Pivot (PP):$63,162.09

Trend:Downtrend

RSI (14):37.1

CoinDesk Staff

(12:51 PM UTC)

1 min read

Verified byOlivia Bennett

1084 views

0 comments

Bitcoin mining network becoming more sensitive to price swings, JPMorgan says. (Shutterstock)

Summary

JPMorgan said bitcoin mining difficulty's sensitivity to price changes has risen sharply this year.
The bank estimated more miners are operating near breakeven as bitcoin trades below its production cost.
Larger and more frequent difficulty adjustments are likely if bitcoin remains under its…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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Source

CoinDesk Staff · CoinDesk

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