Bitcoin Trades Near "Production Cost" as Metric Sits at $62,650, Analyst Says

Capriole Investments founder Charles Edwards says Bitcoin has moved back to its "Production Cost" level, a mining-based metric he cites as a key long-term valuation area. The indicator is currently around $62,650, close to BTC's spot price near $62,400, while network hashrate has recently slipped to about 837 EH/s after frequently touching 1,000 EH/s in May.