CryptoQuant analyst: Current Bitcoin mining cost is $36800 per coin

According to a report by Golden Finance, CryptoQuant analyst Axel Adler Jr stated that the average cost for miners to mine one Bitcoin is currently $36800, and the price difference between the current market price and mining cost has reached 182%. This profit level is comparable to the beginning of the bull market cycle in November 2022. Analysts say that if Bitcoin prices continue to rise, miners will be able to fully recover from the recent halving and reach excess profit levels comparable to those at the beginning of the bull market in January 2023. The analysis also suggests that the peak price of this cycle may exceed $100000.