Crypto analyst Murphy stated that Bitcoin ($BTC) is trading at a critical technical and psychological threshold.
According to Murphy’s assessment, the 10-Year Realized Price is a metric created by largely excluding the cost effect of Bitcoins that are lost or have not moved for a long time. This allows the indicator to more realistically reflect Bitcoin’s “historical average cost of transaction.” In other words, it provides a closer reference to the average cost base of $BTC actively circulating in the market.
The analyst added that the $65,000 level serves as both a cost and psychological line of defense for the bulls. He stated that a decisive downward break of this level could transform the current downtrend into a deeper bear market.
Murphy also noted that it’s not surprising to see an increase in negative and pessimistic commentary during the harshest periods of bear markets, and warned investors to avoid emotional reactions. He mentioned that discussions about the price potentially falling to lower levels such as $30,000 or $8,000 might arise, and advised investors to test their opinions through position management, not verbal arguments.
*This is not investment advice.
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