Charles Schwab's strategist says that $60k Bitcoin is the mining cost bottom, sounding like a reassurance.

But mining costs have never been a hard floor—during the 2022 miner bankruptcy wave, the price fell below most miners' cost lines.
This time is different: miners are shifting to AI computing power dominance, Bernstein has upgraded its rating, and some mining companies' cash flow has improved.
But whether $60k can truly hold depends on two things: first, whether miners are forced to sell coins to pay off debts; second, whether ETF outflows and AI capital diversion continue.
Currently, Bitcoin's loss-making chips have exceeded profit-making chips, with the panic index at 12—repeating a historical bottom signal.
But the structural differentiation is obvious: institutions are selling ETFs, while banks are taking on positions; coin-margined futures holdings are at a new high against the trend, indicating leverage speculation has not dissipated.
$60k may be a resonance point between psychological and energy costs, but if macro deterioration or AI siphoning accelerates, the bottom narrative could be re-priced.
Stay alert, and don't treat the cost line as a safety cushion.
$btc #etf # On-chain data #ai # Blockchain