📉 According to CoinDesk, Bitcoin dropped to $54,000 today. Currently, only five mining models can generate profits for their operators. This may indicate that a “local bottom” has been reached. 😰
F2Pool's chart shows that as long as the BTC price is above $53,100, four Antminer models and one Avalon model can make profits. Now the operating costs of all other mining machines are higher than the returns that operators receive. 😬
Dovey Wan, partner at Primitive Crypto, said: “Bitcoin miners are one step away from capitulating, the P&L of Q19 is 52,000. This is a perfect position for a local bottom.” said. 📉