JPMorgan: Bitcoin Price Surpassing Production Cost May Ease Miner Selling Pressure

According to a report by The Block on September 24, JPMorgan analysts led by Nikolaos Panigirtzoglou noted that Bitcoin has exceeded the firm's estimated production cost of approximately $85,000. The analysts suggested that if this price level is maintained, it could alleviate selling pressure from miners. The report also highlighted that the hash rate has declined by about 19% from its peak, and miners are increasingly pivoting toward AI.