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 that the current average cost of all losing Bitcoin positions is only $93,600. In other words, under the current loss structure, as long as BTC rises back to $930,000, it will allow the average cost of the losing positions to return to break-even. Although there are still many positions trapped above, it can be determined that during the two rapid selloffs at the end of last year and the beginning of this year, a large amount of high-level trapped positions must have chosen to cut losses and exit the market, which in turn lowered the overall average cost of the floating-loss positions. This figure has a 30-day average deviation coefficient of 1.4 relative to the current BTC price, while in the past three bear-market bottoms, the deviation coefficient has been at least greater than 2.0. Greater than or equal to 2.0 means that when entering the absolute bottom zone, BTC’s price was only about half—or less—than the “average cost of losing positions.” To satisfy this condition, this round of 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 milder than any previous bear market. (Source: PANews)