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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid rising operational pressures on the network, Bitcoin miners are facing a revenue crunch as projected daily returns fell to $0.039 per terahash of hashing power. According to reports, this decline in mining profitability has intensified selling pressure, forcing the total crypto market capitalization to test a critical technical support level at $2.05 trillion. Furthermore, ongoing discussions regarding Bitcoin ETF outflows continue to weigh on investor sentiment as the market struggles to maintain the $60,000 psychological floor.
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Sign InThese developments coincide with the US Unemployment Rate holding steady at 4.3% (June 5, 2026 data), reinforcing expectations for prolonged restrictive monetary policy. In comparison to alternative assets, markets are weighing the impact of the looming $250 billion SpaceX IPO on digital asset liquidity, while gold prices remained relatively stable per market data, suggesting a rotation toward traditional safe havens as inflation remains elevated at 4.2%.
Traders should monitor Bitcoin's position following its $62,000 level (close June 11, 2026) as a pivotal point before further downside tests. Looking at the economic calendar, upcoming speeches from Federal Reserve officials next week will be crucial for USD direction and risk-asset appetite. The realized-price floor near $53,600 remains the ultimate support level that has yet to be tested according to CryptoQuant data.
Update: Bitcoin recorded a further recovery to trade at $63,106, marking a 3.24% increase within a 24-hour period according to CoinMarketCap data. This bounce followed a brief dip to the $61,000 level, which resulted in a decline in the amount of BTC held in profit territory, effectively resetting market pressure.
Update: Bitcoin faced fresh downward pressure, trading near $62,800 following the release of US Producer Price Index (PPI) data, which surged to a 4-year high of 6.5% in May. This significant upside surprise in producer inflation has increased the odds of further Federal Reserve rate hikes, forcing the asset to retest the $61,000-$63,000 price range.
Update: Analysts have introduced a political dimension to the sell-off, linking Bitcoin's decline to commentary from former President Donald Trump regarding the surging inflation figures. Experts suggest that the politicization of economic data could heighten uncertainty across the crypto market in the near term.