Bitcoin Slips into No Man’s Land: $45,000 on the Table in Bottom Scenario

Bitcoin price has slipped below $60,000, retreating into the uncertain zone between critical support and resistance levels.

The leading cryptocurrency Bitcoin (BTC) continues to unsettle investors with its recent price action. Having entered an area described as “no man’s land” in light of technical and on-chain data, Bitcoin remains under downward market pressure as it fails to reclaim key technical thresholds.

Critical Support and Resistance Levels for Bitcoin

Current data shows that there are significant hurdles ahead for the Bitcoin price. The True Mean Price—calculated by filtering out lost or inactive supply and reflecting the network’s true economic cost—sits at approximately $76,300. The 200-day moving average, an indicator that separates long-term bull and bear trends, is hovering around $75,500. Additionally, the short-term holder cost basis, representing the average purchase price of investors holding assets for less than 155 days, stands at $69,600, well above the current price and forming a strong resistance zone.

In the downward scenario, vital support levels for Bitcoin are located deeper. The Realized Price, showing the average price at which all circulating assets last changed hands, is at $53,200, while the cost basis for those who haven’t sold in over 155 days stands out at $49,900. When examining previous major bear market bottoms, it is observed that the price has fallen 5% to 10% below these fundamental on-chain metrics. If this historical relationship holds, it is projected that the potential bottom of the cycle could extend down to the $45,000 region.