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

ME News Report, April 6th (UTC+8), cryptocurrency analyst Murphy posted on X platform stating that the current average cost of all losing Bitcoin positions is only $93,600. This means that under the current loss structure, as long as BTC rises back to $93k, the losing positions will break even on average. Although many positions are still trapped above, it can be concluded that during the two sharp declines at the end of last year and early this year, a large number of high-level trapped positions likely cut losses and exited, which lowered the overall average cost of floating loss positions. This figure has a deviation coefficient of 1.4 compared to the current BTC price’s 30-day moving average, whereas in the past three bear market bottoms, the deviation coefficient was at least over 2.0. A deviation of greater than or equal to 2.0 indicates that when entering the absolute bottom zone, BTC’s price was only about half or less of the “average cost of loss positions.” To meet this condition, BTC would need to drop to $46,800. If it doesn’t fall to that level, this will be the most unique bear market in history, because in terms of “pain level,” it is much lighter than any previous bear market. (Source: PANews)