Macro Warning: Michael Burry Flags Miner Risk if Bitcoin Slides

Renowned macro investor Michael Burry has raised concerns about Bitcoin’s downside risk, focusing on how further price drops could affect miners.

The warning highlights a familiar situation: if Bitcoin keeps declining, high-cost mining operations may struggle for cash, which could lead to forced BTC sales, shutdowns, or even bankruptcies for weaker players.

Key takeaways:
- Bitcoin price declines have a bigger impact on miners
- High operating costs plus lower block rewards increase pressure
- Weaker miners may have to sell or consolidate
- Volatility can spread from miners into the overall market supply
- Cyclical shakeouts often follow periods of price decline

Historically, stress among miners has acted as both a short-term bearish pressure and a long-term reset mechanism, eliminating inefficient operators and strengthening network fundamentals over time.

Is this a warning of near-term miner capitulation, or is it the setup phase before the next structural reset in Bitcoin’s mining economy?
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