#数字货币市场洞察 Wall Street traditional finance giants' latest research report reveals: $BTC is undergoing a critical cost pressure test

A recent in-depth report from an international investment bank highlights two core variables currently shaping the market:

First, the total network hash rate shows signs of a pullback. Some high-cost miners have a breakeven point around $90,000, but the current price has already fallen below this lifeline. Soaring energy costs combined with the price correction are forcing these miners into survival mode—selling their Bitcoin inventory for cash flow.

Second, market pricing power is undergoing a subtle shift. Retail investor sentiment fluctuations are no longer the dominant factor; the real market drivers are institutional players managing assets totaling billions of dollars. Their position adjustments and allocation strategies are the true indicators of medium- to long-term market trends.

The report specifically points out: miner selling pressure is a temporary phenomenon, essentially part of the industry’s cleansing process. Once high-energy, low-efficiency participants are eliminated, the entire mining ecosystem will actually become more robust.

How should regular investors respond? Three practical principles:

First, don’t make decisions in panic. Miners being forced to sell is a result of cost pressures, not a collapse of fundamentals. Historical data shows that emotionally driven sell-offs often create low-point opportunities.

Second, closely track institutional moves. If on-chain data shows large addresses continuously accumulating, that’s the real indicator.

Third, keep your powder dry. It’s unwise to go all-in during volatile periods; a phased approach to building positions in quality assets is the rational choice.

Remember: when the cost line is breached, it’s often accompanied by industry reshuffling. After the reshuffle, only truly competitive players remain. The market weeds out the weak while nurturing the next round of opportunities.