Bitcoin mining network becoming more sensitive to price swings, JPMorgan says (opens original article in a new tab)

JPMorgan says Bitcoin mining network has become more sensitive to price swings as more miners operate near breakeven, with larger difficulty adjustments likely if Bitcoin remains below its estimated $78,000 production cost.

• JPMorgan reports increased sensitivity of Bitcoin mining difficulty to price changes this year
• More miners are operating near breakeven as Bitcoin trades below production cost
• Mining difficulty adjustments have become larger and more frequent with Bitcoin below $78,000 production cost