Batis Exchange
The cryptocurrency market remains under considerable downward pressure after Bitcoin’s recent brief rally resulted in a textbook rejection at a key resistance zone.
The bank estimates that the average cost of mining one Bitcoin is currently around $78,000, while the cryptocurrency’s market price sits near $63,000. Analysts noted that Bitcoin has remained below this production-cost threshold for five straight months, creating challenging conditions for many mining operators.
Financial markets witnessed two major events on June 12: a strong return of inflows into Bitcoin ETFs and the public market debut of SpaceX.
After nearly two weeks of consistent withdrawals, Bitcoin ETFs finally saw a positive turnaround with fresh inflows returning to the market. The $85 million+ inflow recorded on June 12 marked a clear break from the previous trend of capital leaving the funds.
