From the perspective of mining, in general, there are several important support levels for BTC: 1. Electricity cost $30,000 (shutdown price)

Based on the total network computing power of 550E, 0.38 yuan/kWh, and the current market mainstream mining machine T21 configuration as a reference, the shutdown price is derived. Historically, there has been no potential shutdown market for mainstream/flagship models at relatively moderate electricity prices.

2. Black Swan Support $48,000 (Shutdown Price * 160%)

Historically, all black swans have never appeared in the market with electricity costs lower than 160% of the current cycle. Therefore, based on the current electricity cost of 1 BTC of 30,000, the risk of buying below 48,000 is extremely low (but it does not mean that the account has no floating losses).

3. Cost support $52,000

With an electricity cost of 0.38 yuan/kWh and a three-year operating life of T21, the BTC price matched by the daily electricity + mining machine cost, when it is lower than this price, basically the risk of buying a BTC in the secondary market is much lower than the risk of miners who start with an investment of more than tens of millions

4. Bear market support $60,000

In most cases in a bear market, the market fluctuates around 200% of the shutdown price, which is around 60,000. For medium and long-term investment, it is a good bottom.