$6,000s is the break even cost of mining Bitcoin. Will miners dump? According to Hash Ribbons 30/60 Day Crossover and Hash Rate dropping below 200 Day Signal Line... this looks uncomfortable. 😬 One scenario is that miners may have stopped supporting the network to save on electricity and will just HODL their coins up to the Halvening (cost of mining after that will be $14,000s) OR, they are selling Over The Counter because they need cash... and once OTC buyers have exhausted... they may dump on exchanges soon. I dunno, just some thoughts.
Comment:
Miner Capitulation may be over, Hash Rate is trending back up.. just lots of volatility to come.