Bitcoin trades 20% below miner production costs as market fear grows; is a bullish turn beginning?

Bitcoin [BTC] is currently priced at around 68,000 to 69,000 USD, representing a significant 20-25% drop from miner costs of approximately 89,000 to 91,000 USD, leading to financial strain among miners.

Despite these pressures, indicators like the Inter-exchange Flow Pulse have shown positive movements, suggesting a shift in market dynamics and possible accumulation phases as liquidity in stablecoins increases.