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Bitcoin, the leading cryptocurrency, fell back to the $62,000 level following the FED’s decision.
While retail and institutional investors are incurring increasing losses in this drop in Bitcoin price, Bitcoin miners are also being negatively affected.
According to The Block, US banking giant JPMorgan has addressed the plight of $BTC miners amidst Bitcoin price drops.
According to a JPMorgan report, the price of Bitcoin has been below miners’ estimated production costs for five months, increasing pressure on miners’ profitability.
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