Bitcoin miners are currently in an unfavorable profit-loss state post a notable drop in BTC prices. Following the April 2024 halving, mining difficulty increased while the hash rate grew, intensifying competition.

Miners have been selling heavily to address operational costs, with miner-to-exchange flows showing record levels of selling pressure. Many are concerned about possible capitulation if profits continue to decline.

To avoid further capitulation, BTC’s price must recover above 100,000 USD. Maintaining such levels is crucial for sustaining miner profitability and stability in the mining sector.