Bitcoin is currently trading below $60,000, placing it in “no man’s land,” a zone where the price lies between major on-chain support and resistance levels. BTC has failed to recover several key technical and on-chain thresholds, so the path of least resistance appears to remain on the downside.
Several key valuation metrics are now above the current price. The true average price, currently around $76,300, estimates the average coin acquisition price after adjusting for lost or idle supply, providing a more accurate measure of the network’s financial cost base.
The 200-day moving average, at $75,500, is a widely followed technical indicator that smooths price movements over the past 200 days and is often used to distinguish long-term bull and bear trends. The 128-day moving average, at $70,900, tracks bitcoin’s intermediate trend, while the short-term cost basis, at $69,600, represents the average purchase price for investors who have held bitcoin for less than about 155 days.
