As of January 19, 2026, data indicates Bitcoin's average mining cost has risen to about $101,000 per coin while the market price trades near $93,000, implying roughly $8,000 in negative margin for miners. Over the same period, the network hashrate has retreated from its October 2025 peak and mining difficulty is set for another downward adjustment in late January 2026, underscoring mounting operational stress across the sector. Meanwhile, some institutional participants are reportedly increasing their Bitcoin exposure despite the pressure on miners.

On December 17, Bitcoin spiked about $3,300 in 30 minutes and then fell $3,400 within 45 minutes, triggering widespread liquidations. More than 120,000 traders saw nearly $400 million wiped out in 24 hours, including $310 million over the last 4 hours. The move ranged from $87,100 to $90,300.

On December 16, 2025, the US unemployment rate rose to 4.6%, above the 4.5% forecast and the prior 4.4%. Commentators say the highest reading since September 2021 could drive Federal Reserve easing in 2026. Bitcoin traded near $88,000 after the release, up 1.84% over the past three hours.

Three large traders established combined long positions worth $92.87 million on Bitcoin and Ethereum through Hyperliquid on November 26, data show. The positions utilized leverage ranging from 2x to 25x. Separately, Ethereum co-founder Vitalik Buterin transferred $2.9 million in ETH to privacy protocol Railgun.