Overview
- Bitcoin traded around $62,000–$63,000 on Thursday, roughly 50% below its October peak and about 20% under Checkonchain’s ~$86,000 difficulty‑regression cost gauge.
- The selloff triggered more than $2 billion in crypto derivatives liquidations in 24 hours, including $1.11 billion tied to Bitcoin and a $12 million position on Binance.
- Researchers caution that the difficulty‑regression figure is an indirect proxy, with CryptoQuant’s Julio Moreno estimating typical all‑in costs closer to $70,000–$80,000.
- Public miners report widely varying per‑coin costs, from about $39,000 at Iris Energy to over $106,000 at NYDIG, with a BlocksBridge median near $60,000 based on Q3 data.
- Miner strain has led to reserve sales and curtailments, with network hashrate down from October highs and a roughly 13% difficulty drop expected Feb. 7, per Coinwarz.