Is Bitcoin’s $60K floor about to crack? THIS key metric holds the answer

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Patience is a virtue-though one that is quickly wearing thin in the current market. The crypto landscape, once a stage for daring optimism, has now turned into a weary theater of bearish plays.

Let’s speak plainly, shall we? The numbers don’t lie. After two weeks of tight consolidation, the total crypto market dropped a hefty 3.81% on February 23rd, taking with it $90 billion in a market-wide cascade of sorrow. And where did most of that sadness come from? Why, Bitcoin, of course. A staggering 60% of those outflows were directly linked to BTC-nature’s own irony at play, as the very titan of the market led the charge downward. Once Bitcoin lost the $65k threshold, it was like watching a herd of panicked cattle stampeding into a pit of liquidations, leaving bears to bask in their newfound reign.

And thus, the inevitable question arises, like the echo of a question we dare not ask aloud: Is $60k now the final, unwavering bottom? Can we trust it?

Up to now, the spot demand has given us little to hold onto. It’s like waiting for an oasis that isn’t coming. Bitcoin ETF flows remain negative, further suggesting that the market has yet to see any real interest in buying the dip. In other words, the masses are waiting for a deeper pullback, perhaps a plunge into something darker before even considering stepping in.

But here’s where it gets interesting: patience is already fraying at the edges, and the atmosphere is heavy with expectation. If buyers don’t emerge soon, the risk of a capitulation wave looms large-bigger than a winter storm on a frosty morning. With that, calling $60k the bottom seems like an act of hubris, anointing a fragile support that could collapse under the weight of its own uncertainty.

Fading support puts Bitcoin miner resilience to the test

The cost of mining a Bitcoin is no trivial matter-it’s the canary in the coal mine. The current “Electrical Cost” of Bitcoin has dropped to around $53,500, down from a lofty $60,000 just a month ago, and $71,000 in the dying days of Q4 2025. In simpler terms, it’s getting cheaper to mine Bitcoin-though not because the technology is advancing. It’s because the weaker miners have been wiped off the map, and the network difficulty has dropped to accommodate the survivors.

Historically, Bitcoin tends to find its footing just above its electrical cost. Weaker miners bow out, supply pressure relaxes, and the price begins its slow dance toward stabilization. That gives some credence to the idea that $60k remains a reasonable support zone for now. But the times they are a-changin’.

Here’s where things get a bit sticky. With spot demand still languishing in the shadows, there’s not enough fire to spark a real rally, leaving the door wide open for a deeper pullback. In fact, some analysts are suggesting that the electrical cost could dip to as low as $45k before Bitcoin truly finds its bottom. Welcome to the wonderful world of miner stress-where capitulation risk is still very much in the cards.

In other words, unless spot buyers show up with a sense of urgency and production costs stop their downward spiral, the $60k level could crumble under the pressure, making a breakdown a very real threat.

Final Summary

  • Bitcoin has lost key support, ETF flows remain negative, and spot buyers aren’t stepping in, making $60k look like fragile support rather than a confirmed bottom.
  • BTC electrical cost has fallen to $53.5k and could drop toward $45k, signaling ongoing miner stress, meaning capitulation risk hasn’t fully cleared yet.

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2026-02-24 12:37