Analyst: The current average cost of all losing Bitcoin positions is only $93,600.

ME News report: On April 6th (UTC+8), cryptocurrency analyst Murphy posted on the X platform that the current average cost of all losing Bitcoin positions is only $93,600. In other words, under the current loss structure, if BTC rises back to $93k, it would allow the average of the losing positions’ cost to break even. Although there are still many positions trapped above, it can be determined that during the two rapid sell-offs at the end of last year and the beginning of this year, a large number of high-level trapped positions must have chosen to cut losses and exit, which lowered the overall average cost of the floating-loss positions. This number’s deviation coefficient from the current BTC price’s 30-day average is 1.4. Meanwhile, in the past 3 bear-market bottoms, the deviation coefficient has been at least over 2.0—greater than or equal to 2.0. This indicates that when entering the absolute bottom zone, BTC’s price was only about half or less of the “average cost of losing positions.” To satisfy this condition, BTC would need to fall to $46,800. If it does not fall to this level, then this will be the most special bear market in history, because in terms of “pain level,” it is much lighter than any previous bear market. (Source: PANews)