JPMorgan Chase: Bitcoin production cost drops to $77,000; bullish on the crypto market in 2026.

JPMorgan analysts disclosed that the estimated cost of Bitcoin production has fallen to $77,000 (down from $90,000 at the beginning of the year), serving as a support level; they anticipate a rebound in computing power, and costs may rise again after the next difficulty adjustment. They maintain a positive outlook on the crypto market in 2026, expecting increased institutional inflows driven by regulations such as the Clarity Act; their long-term Bitcoin price target is $266,000 (compared to gold volatility adjustments). Recent difficulty has cumulatively decreased by 15%, due to the shutdown of high-cost miners caused by the Bitcoin price drop and the impact of winter storms in the US; a rebound in computing power has already been observed. (The Block)