What signals does the large-scale selling of BTC by Little Deer reveal

Bitdeer’s recent liquidation activity has attracted market attention. Currently, BTC is priced at $65.97K, approaching the shutdown cost threshold for 200T hash rate mining machines. This reflects not only simple profit-taking but also the actual cost pressures across the entire mining industry chain.

BTC Price Reaches Shutdown Level, Miners Face Cost Dilemma

As the mainstream equipment, 200T mining machines’ operating costs are a major consideration for mining companies. When BTC price approaches or falls below this critical level, the profit margin for mining is significantly squeezed. Bitdeer’s liquidation operations, to some extent, reflect industry-wide concerns about current profitability. Operating costs for mining centers are gradually rising, including electricity, equipment maintenance, labor, and other expenses, putting substantial operational pressure on miners. When revenues can no longer cover costs, miners are forced to make adjustments.

Increased Turnover in Mining Industry, Bottom Signal Emerges

It is also noteworthy that this price range is a period of significant BTC chip transfer. Miner sell-offs are often accompanied by market participants’ absorption, and this turnover process typically signals a turning point in market sentiment. Actions by leading miners like Bitdeer often reflect the industry’s difficulties and market perception. From a bottom-range perspective, when mining costs serve as a support line, this price level often holds important reference value.