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Bitcoin trades around $62,942, just below $63,000, while 20% of miners are unprofitable and firms sold 32,000 BTC in Q1 to cover costs – see the latest
Bitcoin was last quoted at $62,942, hovering just under the $63,000 ceiling as U.S. holiday trading left the market range‑bound and no fresh catalyst emerged【1】. The price stability masks a deepening squeeze on miners: roughly one‑fifth of the global hashpower is now operating at a loss, and publicly listed mining firms off‑loaded more than 32,000 BTC in the first quarter—exceeding their total sales for all of 2025—to meet operating expenses【1】.
| At a glance | |
|---|---|
| Price | $62,942 |
| 24‑h change | +0.1 % (up from earlier session) |
| Key level | Below $63,000 resistance |
| Catalyst | Miner cash‑flow pressure and holiday‑induced low volume |
The latest data show that 20 % of miners are unprofitable, a level not seen since the 2022 downturn. To stay afloat, publicly traded miners sold 32,000 BTC in Q1, more than the combined sales recorded throughout 2025. This forced selling adds supply pressure at a time when demand is muted, contributing to the modest price uptick despite the broader market’s flatness【1】. The on‑chain implication is a higher turnover of coins from mining entities, which can depress spot prices when large wallets move assets to cover costs.
Bitcoin’s price action this quarter has been bearish: the asset is down 8 % in Q2 and sits just above $62,000, positioning it for a third consecutive negative quarter—the longest losing streak since 2022, when four quarters fell in a row【1】. The current monthly decline of 15 % in June ties its worst month since February, underscoring the lack of upside momentum. With U.S. equity and bond markets closed, crypto trading volumes remain subdued, leaving price largely confined to its recent range.
The BTC‑gold ratio, a long‑standing barometer of Bitcoin’s relative strength, has recovered to 15.22 oz, implying a gold price near $4,150/oz and a Bitcoin valuation around $63,300—close to today’s trading level【1】. While the ratio suggests a modest rebound, historical cycles show that such recoveries can span 396–579 days before reaching a bottom, indicating that any near‑term price gains may be temporary.
The convergence of miner cash‑flow stress, a flat trading environment, and a prolonged quarterly decline suggests that Bitcoin’s near‑$63K level is more a reflection of temporary market inertia than a robust support. Whether the price can break higher will likely depend on the next wave of on‑chain supply and the return of broader market activity.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jun 24, 2026 · How we report
Bitcoin was introduced in a 2008 white paper by the pseudonymous Satoshi Nakamoto and the network launched on 3 January 2009.
Bitcoin uses a computationally intensive proof‑of‑work process called mining, where nodes validate transactions and add them to the blockchain.
Regulators have taken actions such as banning Bitcoin in several countries, classifying miners as money‑services businesses in the US, and prohibiting its use by Chinese financial institutions.
Analyst David Eng cites a four‑year trend line that implies a fair price around $76,400, indicating Bitcoin is undervalued by about 20% and that the bear market is roughly 70% complete.
El Salvador adopted Bitcoin as legal tender in September 2021 but later revoked that status.