JPMorgan flags a warning sign for Bitcoin

Bitcoin is currently trading nearly $14,000 below its $78,000 production cost, forcing miners into a desperate cycle of toggling rigs on and off just to survive. This has made the network's hash rate dangerously sensitive to price swings, meaning the very backbone of the blockchain is now a slave to market volatility. This instability will persist as long as BTC remains under $78,000, leading to frequent, massive shifts in mining difficulty. Is Bitcoin's network security becoming too fragile?
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