Miner sell pressure grows as BTC trades 20% below production cost

Bitcoin (BTC) is facing increased selling pressure from miners as its price trades significantly below the average cost of production, Cointelegraph reported. Citing data from checkonchain, the report estimates the average cost to produce one BTC is approximately $87,000, with the cryptocurrency currently trading 20% below this level. During the bear markets of 2019 and 2022, Bitcoin's price similarly fell below its mining cost before eventually recovering to comparable levels. At the current price, unprofitable miners are selling their BTC holdings to cover operational expenses and service debt.