🔥The average cost of loss-making positions for BTC has dropped to $93,600, with many high-cost trapped positions having already exited the market.

On-chain analyst Murphy stated that the current average cost of all loss-making Bitcoin positions has fallen to $93,600, below $100k. This means that when BTC rises back to $93k, it will reach the market’s average breakeven point. During the two rapid declines at the end of last year and the beginning of this year, a large number of high-cost trapped positions chose to cut losses and exit, lowering the overall average cost of floating loss positions. The average cost of loss-making positions has a 30-day average deviation coefficient of 1.4 relative to the current BTC price, whereas in the past three bear market bottoms, the deviation coefficient was at least over 2.0. When the average deviation coefficient is greater than or equal to 2.0, it indicates the market has entered an absolute bottom zone, at which point BTC’s price is less than 50% of the average cost of loss positions. To satisfy…
#btc