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According to Glassnode data, the Bitcoin network hashrate saw its first quarterly decline in six years in Q1.
Currently, the cost for a miner to mine one BTC is close to $90,000, while the current price is only $66,000, resulting in a loss of nearly $30,000 per BTC.
More than 70% of miners' revenue already comes from AI data centers.
It feels like: AI/tokens of the present/future are the products of the past $BTC, rushing in (to become the next big thing!)?
That's what a bear market is like.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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