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

ME News message. On April 6 (UTC+8), cryptocurrency analyst Murphy posted on the X platform, saying that the current average cost of all losing lots for Bitcoin is only $93,600. In other words, under the current loss structure, if BTC only rises back to $930,000, it would bring the average cost of the losing lots back to break-even. Even though there are still many lots trapped above the current price, it can be determined that during the two rapid selloffs at the end of last year and the beginning of this year, a large number of high-priced trapped lots chose to cut losses and exit, which is what dragged down the overall average cost of the floating-loss lots. This figure’s deviation coefficient versus the current BTC price’s 30-day average is 1.4. Meanwhile, in the bottom areas of the past 3 bear markets, the deviation coefficient has been at least greater than 2.0—greater than or equal to 2.0. When entering the absolute bottom zone, BTC’s price was only less than about half of the “average cost of losing lots.” To meet this condition, BTC would need to drop to $46,800. If it does not drop to that level, then this will be the most exceptional bear market in history, because in terms of “pain level,” it will be much milder than any prior bear market. (Source: PANews)