Crypto analyst Murphy said that Bitcoin ($BTC) is trading at its technical and psychological breaking point.
According to Murphy’s assessment, the 10-year realized price is a metric that largely excludes the cost-effectiveness of Bitcoins that have been lost or have not moved for long periods of time. This allows the indicator to more realistically reflect Bitcoin’s “historical average transaction cost.” In other words, this provides a reference closer to a company’s average cost base. $BTC It is actively distributed in the market.
The analyst added that the $65,000 level serves as both a cost and a psychological line of defense for bulls. He said a decisive break below this level could turn the current downtrend into a more severe bear market.
Murphy also cautioned investors to avoid emotional reactions, noting that it’s not surprising that negative and pessimistic comments increase during the toughest days of a bear market. He said there could be discussions about the possibility of prices falling to lower levels, such as $30,000 or $8,000, and advised investors to test their opinions through position management rather than verbal arguments.
*This is not investment advice.
