[JPMorgan: Bitcoin Surpassing $85,000 Production Cost May Ease Miner Selling Pressure] According to The Block, JPMorgan analysts stated that during Bitcoin's rally this week, it briefly surpassed the estimated average production cost of approximately $85,000, ending a 280-day streak of being below this level. If this price level is maintained, it could alleviate pressure on miners and reduce the risk of forced selling. Analysts noted that production cost has historically been considered a 'soft floor' for Bitcoin prices. When prices remain significantly below this cost for an extended period, miners with high electricity and equipment costs may face losses, leading them to sell their holdings, shut down operations, or exit the market. The last similar prolonged period of prices below production cost occurred in 2018 (approximately 224 days), during which high-cost miners exited, causing a decline in network hash rate and difficulty. Analysts pointed out that although the mining industry is now larger and more industrialized, the same adjustment mechanisms still apply.