Bitcoin mining network becoming more sensitive to price swings, JPMorgan says
CoinDesk·
60-second summary
The Bitcoin mining network is becoming more sensitive to price swings, with JPMorgan noting a growing share of miners operating near breakeven levels, making hashrate and mining difficulty increasingly responsive to bitcoin's price movements, potentially amplifying price fluctuations. This heightened sensitivity could lead to more volatile market conditions in the cryptocurrency space.
A growing share of miners are operating near breakeven levels, making hashrate and mining difficulty increasingly responsive to bitcoin's price movements, the bank said.