MARA: Miners Ease Sell Pressure as Hash Rate Rises

Ki Young Ju notes Bitcoin miners have exited forced selling, with MARA reporting average production costs of $59,774 per BTC well below spot levels and network hash rate rising for two months after a nine-month slide.

Bitcoin trades at $81834.09 on the 4h chart inside the Bollinger Bands, pressing the lower band support at $81825.37 while the EMA50 at $83334.86 and EMA200 at $82309.43 cap upside in a bearish structure reinforced by the MACD death cross at -186.59 and neutral RSI at 39.05; any bounce toward the upper band at $84624.83 would likely stall at the EMA50 before retesting lower support.