Bitcoin miners face a production cost gap of $19,000 per bitcoin, with an average cost of $88,000, while the market price is $69,200, resulting in a 21% loss per block. Geopolitical tensions, including Iran conflicts and rising oil prices, have intensified miners' electricity costs. Network difficulty declined by 7.76% to 13.379 trillion, and hash price approached the break-even point at $33.30/PH/s/day, forcing miners to sell bitcoin to maintain operations and exacerbating supply pressure on the market.