According to online reports, CryptoQuant analyst Axel Adler Jr issued an article saying that the current average cost of mining one Bitcoin is US$36,800, and the difference between the current market price and mining cost reaches 182%. This profit level is comparable to that of 2022. The beginning of the bull market cycle in November. Analysts said that if bitcoin prices continue to rise, miners will be able to fully recover from the latest halving and reach excess profits levels comparable to those at the start of the bull market in January 2023. The analysis also pointed out that peak prices for this cycle could exceed $100,000.