Bitcoin miner margins hit record low as BTC tests $60K support

Bitcoin miner profit margins have fallen to an all-time low, a development that historically precedes increased selling pressure from miners and could threaten the $60,000 support level.

According to data from CoinTelegraph, miner revenues relative to their costs have never been lower, even as Bitcoin's price hovers near the psychologically important $60,000 mark. Miners, who must cover fixed costs like electricity and hardware, often sell a portion of their holdings to stay profitable. With margins squeezed, the likelihood of at-market selling rises, potentially adding downward pressure on BTC.

For cryptocurrency traders, miner selling is a key on-chain metric to monitor. When miners offload coins, it increases supply on exchanges, which can weigh on price. The current environment also reflects broader market dynamics: Bitcoin has struggled to hold $60,000 amid macroeconomic uncertainty and reduced risk appetite. Traders can check NowPrice's crypto page for real-time BTC pricing and exchange flow data to gauge the impact.

Looking ahead, the key question is whether the $60,000 level will hold as support. If miner selling intensifies and BTC breaks below, the next major support could be around $55,000 or lower. Conversely, if demand absorbs the selling, a rebound toward $65,000 is possible. Traders should watch upcoming US inflation data and Federal Reserve commentary, as these macro factors influence risk asset sentiment and could either exacerbate or alleviate the pressure on Bitcoin.