Bitcoin Miners Reveal New 'Long-Term Buying Opportunities' at $61,000

Bitcoin miners are under renewed pressure as on-chain data points to a miner “capitulation” phase that some traders view as a buy signal. Pseudonymous trader Killa posted on X that miners were “capitulating,” calling it a signal that has historically marked the perfect time to accumulate and writing, “There isn't a clearer sign to start accumulating $BTC.” A Bitbo chart comparing spot price with the last long-term mining difficulty low shows profitability squeezed, with a dedicated miner-capitulation indicator firmly in the red and echoing patterns from prior bear markets.

Killa also warned that Bitcoin’s next bear-market low may still be ahead, suggesting legacy markets could correct and mark the final pivot low. Charles Edwards of Capriole Investments says miners are approaching breakeven: production cost sits around $61,200 and electrical cost about $48,965, leaving a miner margin of 4.67% — near two-year lows.

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