Could #BTC Have a Hidden $60K Floor? 🤔
Just an interesting observation from one of #BTC long-term indicators.
There’s a model called the Bitcoin production cost model, which estimates how much it costs miners to produce #BTC (electricity, hardware, operations, etc.).
Historically, when Bitcoin’s price gets close to this production cost zone, the market often reaches a turning point.
Either miners capitulate and sell…
or buyers step in and the next rally begins.
In many past cycles — 2016, 2019, 2020, and 2023 — the second scenario played out.
Right now, the estimated production band sits around $61K – $73K, and Bitcoin is hovering right above it.
Not saying history will repeat…
But it’s definitely a zone worth watching.
Could this be Bitcoin’s economic floor forming again?
Just something to keep an eye on.😅