Bitcoin Price Holds $64K as 23% of Mining Rigs Slip Into Daily Losses

Key Insights

• The Bitcoin (BTC) price holds near $64,745 as 22.7% of tracked mining rigs post daily losses.
• Ali Charts sees TD Sequential, 50-month SMA, and CMO signals associated with previous macro bottoms.
• Spot Bitcoin ETFs drew $754 million this month as options traders increased downside protection.

The Bitcoin price holds near $64,745 as mining profitability weakens across several major machines. WuBlockchain Data Center shows 22.7% of 22 tracked rigs produced negative daily net returns on August 6.

The pressure arrives while Bitcoin trades inside a narrow recovery range after falling toward $62,000 earlier this week. Analyst Ali Martinez says several monthly indicators now resemble conditions seen around previous major market bottoms.

At the same time, mining economics and long-term momentum are sending different signals. That contrast keeps attention on whether current support can hold as miners face narrower operating margins.

However, the analysis provided here is based on publicly available market data and technical indicators. It does not constitute a recommendation to buy, sell, or hold any digital asset.

Given the highly volatile nature of the crypto market, investors must conduct thorough research or seek guidance from a licensed professional before making any investment planning.

Bitcoin Price Holds as Mining Margins Tighten Further

WuBlockchain Data Center data shows five of 22 tracked Bitcoin mining machines were operating at a daily loss. That equals roughly 22.7% of the monitored group.

Profitability depends heavily on electricity costs, network difficulty, machine efficiency, and the price of Bitcoin. The most efficient tracked model has an estimated shutdown price near $46,787 under current assumptions.

That level does not mean Bitcoin must fall toward $46,787. Instead, it shows where even stronger mining equipment could approach break-even under the same cost model.

For miners, the latest readings highlight tighter margins after Bitcoin’s broader decline from its previous cycle high. Less efficient machines face pressure earlier when revenue per unit of computing power falls.

Bitcoin (BTC) Price Meets Three Macro Bottom Signals

Meanwhile, Ali Charts points to three technical signals that could support a larger Bitcoin recovery. The monthly TD Sequential flashed a buy signal last month, according to the analyst.

Bitcoin is also trading near its 50-month simple moving average. Ali notes that this long-term level has aligned with several major market bottoms since 2014.

The Chande Momentum Oscillator has also fallen to about minus 71. The indicator last reached that area in June when the price of Bitcoin dropped toward $57,000.

Ali says the combination could indicate that a macro bottom is already forming. However, he still expects possible consolidation between $60,000 and $67,000 before a clearer directional move.

The BTC crypto market therefore sits close to an important technical decision zone. Bitcoin must still hold support while testing the upper half of Ali’s projected range.

ETF Demand Rises While Options Traders Buy Protection

Additionally, spot Bitcoin ETFs have attracted $754 million during the first week of August without recording any outflow, Farside Investors data showed. According to CoinMarketCap data, Bitcoin price is near $64,700 despite that fresh demand.

Options activity shows more defensive positioning. Put options represented 53.8% of Bitcoin options volume during the previous 24 hours, CoinGlass data shows.

Three of the four most-traded contracts were puts at $62,000 or $63,000. Their expirations fall on August 10, August 14, and August 28.

Calls still account for 60.7% of total open interest. That keeps the broader derivatives market tilted toward upside exposure despite recent demand for downside protection.

Deribit’s DVOL index is near 35, down sharply from a high of 90 earlier this year. Lower implied volatility suggests traders expect smaller near-term price swings.

The Bitcoin price USD setup therefore combines steady ETF buying, defensive options flow, and pressure across some mining rigs. Those signals are not moving in the same direction.

The Bitcoin price in USD also remains below $65,000, leaving the upper end of Ali’s range untested. A clean move above that area could strengthen the current technical recovery.

At the same time, another move toward $62,000 would bring active downside hedges closer to the market. BTC crypto traders are also watching whether miner profitability deteriorates further if spot prices weaken.

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