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A Bitcoin (BTC) metric tracking the electricity cost to mine one coin is flashing a warning for the bulls, with a so-called “miner exodus” adding to the bearish outlook.
Key takeaways:
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BTC could fall toward the $59,000–$74,000 miner cost zone.
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Big hash rate drops often precede rebounds toward Bitcoin’s energy value at $121,000.
Mining data hints BTC may decline below $60,000
As of January, the estimated average in electricity costs to mine a single Bitcoin is $59,450, while the net production…
