Bitcoin's Road to $86,000: Can It Reach New Heights?

However, the average mining cost of Bitcoin is $86,668. Historically, Bitcoin prices have generally surpassed mining costs in the end, suggesting a bullish phase in the future.

The latest data is also consistent with what Dao Ge expected in April. After the halving, a small number of miners can no longer do it, and miners have begun to slowly sell.

The balance of miners has decreased in recent weeks. The decline in miner confidence is obvious as they choose to liquidate their positions.

But mining costs tell us that there is a lot to look forward to in the future.

Will Bitcoin's bearish trend continue?

In the short term, another data: "Net deposits on exchanges have exceeded the weekly average"

This indicates that selling pressure has intensified. In addition, Coinbase Premium is in a loss, reflecting the dominant selling sentiment of American investors. The Americans are a little scared, and there are more American whales.

Key indicators such as MACD and Chaikin Fund Flow (CMF) reflect that bearish sentiment is dominant, and CMF is below the neutral level. RSI is also below neutral, indicating weak momentum.

Despite these bearish signals, Bitcoin's price is currently at the lower limit of the Bollinger Bands, which usually indicates that the price is about to recover.

That is to say, short-term volatility sentiment is bearish. When fear intensifies, it is time to rise.

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