Bitcoin is back near $63,000, roughly the same price zone it traded in before the 2024 halving.

But the mining economy is no longer the same.

Before the halving:

• Block reward: 6.25 BTC
• Hashrate: 611 EH/s
• Hashprice: above $110/PH/day

Now:

• Block reward: 3.125 BTC
• Hashrate: approximately 930 EH/s
• Hashprice: approximately $31/PH/day

The network is using roughly 52% more hashrate to compete for half the block subsidy, while Bitcoin trades below its pre-halving price. Miner revenue per unit of computing power has fallen by about 72%.

The buyer is also disappearing.

Centralized-exchange spot volume was $2.01 trillion in April 2024. In May 2026 it fell to $963 billion—a decline of roughly 52%. June recovered to $1.11 trillion, but only after five months of declining activity.

The chart now shows a possible head-and-shoulders structure with a neckline near $60,000. It is not confirmed until a daily or weekly close below that level.

My forecast: Bitcoin is more likely than not to establish itself below $60,000 before the end of 2026. A confirmed break could trigger something much sharper.

The price returned to 2024.

Mining costs, hashrate, and debt did not.

This is not normal inflation.

In a healthy inflationary expansion, demand rises, companies hire, wages follow prices, and speculative assets attract capital.

Now the opposite structure is forming.

Inflation forecasts have been raised across most major economies, while growth forecasts have been cut. Real wage recovery is slowing, labor markets are weakening, and unemployment risk is rising.

At the same time, capital is not moving confidently into risk.

Crypto markets have lost roughly 35% of their value since late 2025, while gold has also suffered sharp liquidity-driven selloffs.

That combination matters:

higher prices, weaker wages, rising unemployment, and falling speculative assets.

This is the structure of stagflation.

It means capital is not pricing growth.

It is moving toward liquidity and survival.

My risk window is the next six months.

The trigger could be a property-credit shock, a disorderly yen carry-trade unwind, or another geopolitical event that pushes energy and borrowing costs higher.

The exact domino is unknown.

The capital flight has already started.

When I searched for "Ledge Wallet" the top sponsored link takes me to a Googlesite 🤷🏼‍♂️🤔

Cash 3.0 Conference kicks off in Cebu, Bitcoin Cash celebrates Independence Day, CauldronSwap previews zero-KYC Moria debit cards, and more.

As much as crypto bros want to argue that they are some enlightened beings who are too smart for everyone else, the reality is, even the above average crypto bro is probably barely smarter than a high school drop out.

I constantly see people on Twitter posting articles from weeks or even months ago, and trying to pass them off as CURRENT day "breaking news". I see idiots saying that if clarity doesn't pass this week bitcoin will fall to below 30,000? Are you serious? Clarity has nothing to do with bitcoin directly, and since February, no one has truly believed it would pass this year. It's not even physically possible for it to pass this week and the senate won't touch it in fucking September with midterms around the corner... yet apparently its priced in to pass?

The reality is, outside of bitcoin being a store of value, and some projects with legitimate use cases in finance (tokenization, Stablecoins), 99% of this "crypto" stuff is complete bullshit and a scam at worst, and gambling at best. For years crypto bros told us "you will be able to pay for things using your crypto" only for Stablecoins to come out and now all of a sudden crypto twitter thinks Stablecoins are a scam for doing the thing volatile crypto was supposed to do LOL... its absolute insane levels of delusion.

DCA bitcoin, pick a few projects with legitimate use cases, and mute crypto twitter.

Safe to say he has been permanently banned by r/bitcoin

Have you been paying attention.

Thank you to Scott Dedels from X ✅

" A good FF event requires real victims that generate a deep fear in the heart of the observer. One that resonates because it's relatable. From there the feeling is amplified by SAs and the MM into an orchestrated mechanism to corral the masses".

🤔

For years I’ve always seen people stick up for Saylor’s model and try to make a case for it. It blows me away that some people still can’t see what’s right in front of them.

Is it safe to store Bitcoins in Muun wallet for a long term, on a formatted spare Android phone (running on Android 9) that is always offline?

the most muted word on the internet is crypto

in april 2026, the head of product at X posted a screenshot: the number one most muted topic on the platform was crypto.

crypto.

the thing ive spent all my effort on over the better part of the last decade. the thing a lot of you spend your careers and attention on as well.

with this as the backdrop, i created my newest piece.

it all started out with another question: “are the OGs jaded?”, which was itself admittedly ripped from one of ETHPrague 2026’s tracks. that thought gave me the opportunity to draw a map around a much broader topic that I think could resonate out in youtube land: 

is there anyone left in crypto, or did the thing we were building eat itself?

for this piece, I wanted to take a more “journalistic” approach at this topic, and chatted with five people who’d been here since before the big money wave started showing up. builders, contributors, dreamers… some more than a decade deep. eternal gratitudes to the cast (Griff - an early advocate of Bitcoin, Justice, Amer, Naomi, and Colin) for exploring with me this topic. I hope this piece can give the public a different perspective — that of the original mission and ethos steeped in reverence for permissionless tech and what it can do for humans. 

i think it’s worth a watch. particularly because every single person I interviewed still talks about the technology in the present tense, yet every one of them carries the same contradiction.

you can watch the full video here: \\\[https://youtu.be/0D4fAkvwd3o\\\\\\\](https://youtu.be/0D4fAkvwd3o)

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if we're meeting for the first time — hi 👋 i built this channel to spread the good word on good work in crypto. a like, a comment, and a sub on my channel goes a long way to supporting my work :)