Bitcoin briefly crossed JPMorgan’s estimated $85,000 average production cost after spending 280 days below it, potentially reducing miner selling pressure. Price has since retreated toward $84,100, so confirmation remains critical.

  • Production cost has historically acted as a soft price floor for BTC
  • Unprofitable miners relocated, retired inefficient rigs, or redirected capacity toward AI
  • Relief depends on Bitcoin reclaiming and sustaining the $85,000 threshold

LaunchBar view: A durable break above miner cost could remove a persistent source of supply and strengthen the rally. Traders should watch miner transfers and hash-rate stability—not chase until $85K becomes support.