JPMorgan analysts have revised their Bitcoin production cost estimates downwards to $77,000 from $90,000 at the beginning of the year, identifying this as a potential support level. Projections indicate a rebound in network hashrate, with costs potentially increasing after the next difficulty adjustment. The firm maintains a positive outlook for the cryptocurrency market in 2026, anticipating increased institutional fund inflows, partly driven by regulatory clarity stemming from legislation like the Clarity Act. JPMorgan has set a long-term Bitcoin price target of $266,000, adjusted for volatility relative to gold. The recent 15% cumulative decrease in mining difficulty is attributed to the shutdown of high-cost mining operations due to falling Bitcoin prices and the impact of winter storms in the United States. Network hashrate has reportedly begun to recover. (Source: The Block)

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