Bitcoin Touches Historical Support Level Near $67,000 Mining Cost
Bitcoin Touches Historical Support Level Near $67,000 Mining Cost
Trader Plan C's analysis indicates Bitcoin is currently trading around its marginal mining expense of $67,000. Historically, BTC has shown strong defense of this price level, with repeated bounces, suggesting it acts as a significant support based on the principle that commodities rarely trade below production cost.
Trader Plan C recently surfaced a chart indicating a production-cost model placing Bitcoin's marginal mining expense at approximately $67,000, with historical price action showing repeated bounces off that red line. He added that “commodities rarely trade below their cost of production.” The hook is clean, the logic is intuitive, but the reality beneath Bitcoin's latest […]