【In-depth Review】20% of Mining Companies Fall Below Cost Line

Is this a "darkest moment" or a "golden pit"?

The recent BTC correction has panicked many, but I've noticed a key data point: 20% of mining companies have fallen below the breakeven point.

Historically, "miner capitulation" is often a signal of a temporary bottom. Because when mining becomes unprofitable, selling pressure is released intensively, and then the market rebounds as sell orders dry up. But this time is different: after the ETF approval, the market structure has changed, with institutional holdings taking a larger share. Miners dumping alone may not create that "deep V" reversal; instead, it's more likely to be a prolonged bottoming and consolidation.

Regarding Q2 option expiration, my strategy is "don't cross the river without seeing the rabbit":

I don't recommend blindly guessing the direction before expiration. The current macro environment does not support a direct bull market, but it also can't drop much. I'll choose to hold spot positions, reduce contract leverage, and wait for a directional breakout confirmation after expiration before entering on the right side. After all, surviving longer in this market is more important than making quick profits.
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