CoinMeta Data: JPMorgan analysts stated that Bitcoin once this week surpassed their estimated production cost of around $85,000, a level it had been below for 280 consecutive days prior to this. If the price can remain above the production cost, miners' profit pressures are expected to ease, and the risk of them being forced to sell BTC will decrease. Analysts noted that Bitcoin's production cost has historically served as a "soft bottom" for prices, and remaining below this level for an extended period could force high-cost miners to sell more BTC, shut down their mining machines, or withdraw from the market. At the same time, mining companies are shifting some of their operations, electricity, and data center resources to AI computing. Bitcoin's overall network computing power has decreased by about 19% compared to its peak in October last year, and the difficulty of mining has also dropped by about 15%. JPMorgan believes that this trend will help to limit excessive expansion of computing power and slow down the growth rate of Bitcoin's production costs beyond the impact of halvings.