Can BTC technically survive under 6k?
This is close to a bottom where mining stops to be profitable, meaning that supply of BTC from miners would drop. How much supply comes from miners anyways? Is that meaningful in terms of price movement?
What if miners are not profitable? Does that make them stop and thus make BTC transactions less secure? Do they continue mining in hopes of future price raise?
What would be the psychological impact on traders if BTC goes under 6k? That is a huge resistance point and if it brakes how far can price drop? Last time it was more like a test to 5800 which recovered immediately.
There is no problem for bitcoin to survive under those prices not long ago miners were mining for a bitcoin worth 600 dollars the price right now is above 6000, ten times that so yes they can easily survive even if the competition has gotten harder and the costs of electricity went up that is still a good price for the miners so do not worry too much about that, and the psychological impact of bitcoin below that price is not that great, we have seen bitcoin sometimes testing those levels and the price always bounces back.