Bitcoin mining costs remain below $87,000.

Bitcoin is trading at around 70,000 dollars, while its production cost is estimated to be around 87,000 dollars. This situation is historically considered an indicator of a bear market.

In previous bear markets, particularly in 2019 and 2022, Bitcoin traded below its production cost and eventually returned to that cost level.

Additionally, there has been a significant recovery in hashrate data. After a 20% decline from the all-time high of 1.1 Zettahash/s in October, hashrate has shown an increase again.