Why Bitcoin Must Remain Above 60k

Last year, when Bitcoin hovered around 30k, miners, who are major Bitcoin holders, were making a specific profit, let's call it X USD: in profit, after all mining costs.

This changed dramatically when Bitcoin surged to 60k, doubling their earnings to 2X USD, for a brief period.

The subsequent halving event reduced their profits back to X USD which isn't so bad since it's what they were earning a few months ago.

To restore their previous high earnings of 2X USD, miners aim for a Bitcoin price of 120k. To achieve this, they’re holding onto their Bitcoin rather than selling, which could be a significant factor in keeping the price above the crucial 60k level.

While this doesn't guarantee it, it's a compelling reason to believe Bitcoin might stay in this range for some time.

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