TechFlow News, February 13: According to a report by The Block, JPMorgan analysts’ latest report estimates that Bitcoin’s production cost—historically viewed as a “soft support level” for price—has declined from $90,000 at the start of the year to $77,000, primarily due to reductions in network hash rate and mining difficulty. Analysts attribute the hash rate decline mainly to severe winter storms in the U.S. and the exit of high-cost miners from the market, though signs of hash rate recovery have already been observed. Despite short-term volatility, JPMorgan’s team maintains a “positive outlook” for the crypto market in 2026, expecting institutional investors to drive market growth and upholding its long-term Bitcoin price target of $266,000.
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