The price of BTC is lower than the average cost of its production.

Ali Martinez estimated the average cost of mining a cue ball at $86,668. As long as BTC is below $70,000, mining will not pay off.

However, the analyst sees positivity in such data. He believes that this situation will contribute to the ATH update.

CryptoQuant CEO Ki-Young Joo also expects the bullish trend to return as soon as possible, pointing to data that could potentially have a positive impact.

A fall in Bitcoin below the institutional purchase price looks unlikely, the analyst believes.

CryptoQuant urges investors to avoid taking excessive risks to allow the bull market to fully develop.$BTC