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Crypto Market Slump Continues as Bitcoin Tests $84K Support

Crypto Market Slump Continues as Bitcoin Tests $84K Support

Author:

Global Cryptocurrency

Published:

2025-12-02 07:27:01

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BTCCSquare news:

Bitcoin briefly dipped below $84,000 before recovering to $86,000 amid a broader market downturn. The Miner Weekly report highlights an increasingly dire environment for Bitcoin miners, with hashrate revenue collapsing to $35/PH/s—far below operational costs as network difficulty approaches all-time highs.

Select tokens defied the bearish trend, with NEXO, ICP, FARTCOIN, PIPPIN, MERL, and SAFE posting gains. These outliers suggest sector-specific narratives may be driving demand despite macro headwinds.

The market’s fragility underscores the tension between Bitcoin’s institutional adoption milestones and the harsh economics of proof-of-work mining. As capital rotates toward spot ETFs and layer-2 solutions, legacy infrastructure faces existential pressure.

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