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Bitcoin miners are recording profits at their lowest levels on record even as the spot price struggles to hold $60,000 — a pairing that puts one of the market's most-watched technical supports in question and raises fresh concern among traders about the durability of the current price floor.
What Compressed Margins Mean for the Market Miner profitability matters to price action for a structural reason: when margins erode, operators under financial strain tend to liquidate holdings to cover operating costs, adding sell-side pressure at precisely the moment the market can least absorb it.
The record-low reading on miner profits signals that this dynamic may be building, even if the exact scale of any potential distribution remains unclear from the available data.
Miners occupy a unique position in Bitcoin's ecosystem. Unlike most market participants, they receive newly issued $BTC as block rewards and must continuously decide whether to hold or sell.
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