Daily Coin Analysis: Bitcoin (BTC)

Market Performance and Analysis:

According to the latest data as of June 20, 2026, after a brief rebound as macro political tensions eased significantly (the official signing of the US-Iran peace agreement), Bitcoin (BTC) saw market volatility intensify sharply again. Due to the effects of large financial institutions’ analysis reports and the long-and-short double squeeze in the derivatives market, the coin price reversed rapidly after a short-term surge, forming a sharp upside-to-downturn reversal.

Price Dynamics: Currently, trading is concentrated strongly in the $63,000–$64,000 range (approximately NT$2.0 million–2.01 million TWD). After the bulls attempted to push for $65,600 yesterday but failed, it immediately triggered a structural liquidity collapse, dropping quickly within minutes to break below the $64,000 level.

Technical Analysis: The short-term daily chart is currently under extremely severe testing. At present, $63,000 has become the life-or-death line that determines this month’s trend. If it breaks, downside room will be directly opened toward the $60,000 level. The immediate barrier above has shifted significantly down to the $64,800–$65,500 range; if the bulls cannot regain this area with volume within 48 hours, the bearish market structure characterized by sideways drifting declines may continue.

Major Negative Catalysts and Fundamental Warnings:

JPMorgan Warns: BTC Has Been Below Production Cost for 5 Consecutive Months!

This week, JPMorgan released its latest client report stating that, affected by rising energy costs and hardware depreciation, the overall average mining production cost for Bitcoin has surged to about $78,000. Meanwhile, the BTC price is currently hovering around $63,000 (discount as high as 19%), meaning that nearly 20% of miners worldwide are in a state of actual losses.

Record-Breaking Selloffs by Listed Miners:

The report further warns that, due to severely compressed profit margins, some publicly listed Bitcoin mining giants have been forced to initiate a “record-breaking token sell-off” to maintain daily cash flow. This “structural selling pressure” coming from the very front end of the industrial chain is the core black swan behind the repeated failure of market rebounds and insufficient buy-the-dip follow-through from funds above.

Disclaimer: For reference only; not investment advice.

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