Still, Bitcoin often rebounds toward its energy value after long downtrends, with one model pointing to a fair price near $121,000.
A Bitcoin (BTC) metric tracking the electricity cost to mine one coin is flashing a warning for the bulls, with a so-called “miner exodus” adding to the bearish outlook.
Key takeaways:
BTC could fall toward the $59,000–$74,000 miner cost zone.
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