[Data: Bitcoin Below Average Production Cost by Approximately $87,000, a Typical Bear Market Characteristic] BlockBeats reports that on February 5, Bitcoin's price hovered above $70,000, while the current average production cost of Bitcoin is approximately $87,000, a difference of about 20%, which is a typical characteristic of a bear market. In previous bear markets in 2019 and 2022, Bitcoin's market price also fell below the average production cost but eventually recovered. After reaching a peak of approximately 1,100 EH/s in October, Bitcoin's total network hash rate has dropped by about 20%, currently rebounding to 913 EH/s and beginning to stabilize. At the current price level, many miners are still unable to turn a profit. Since their revenue is below operating costs, miners are forced to continue selling Bitcoin to maintain daily operations, pay energy expenses, and repay debts. However, from a long-term perspective, this situation is unlikely to persist for much longer.