Bitcoin is currently trading below $60,000, putting it in “no man’s land,” an area where the price sits between the chain’s major support and resistance levels. BTC failed to reclaim several important technical and on-chain thresholds, so the path of least resistance appears to remain to the downside.
Several key valuation indicators are now above the current price. The actual average price, currently approximately $76,300, estimates the average acquisition cost of parts after adjusting for lost or inactive supply, providing a more accurate measure of the network’s economic cost base.
The 200-day moving average, at $75,500, is a widely followed technical indicator that smoothes price action over the past 200 days and is often used to distinguish between long-term uptrends and downtrends. The 128-day moving average, at $70,900, follows Bitcoin’s intermediate trend, while the short-term holding cost basis, at $69,600, represents the average purchase price of investors who have held Bitcoin for less than about 155 days.
