Bitcoin’s “Electrical Cost” Suggests Possible Bear Market Floor Near $50,000 — Analyst

Bitcoin’s bearish structure over the past few weeks has raised clear concerns about the flagship cryptocurrency’s future. Amid these concerns are speculations concerning its trajectory, some of which point to bottoms as low as $25,000. However, an on-chain analyst recently took to the social media platform X to explain why Bitcoin’s fall to $25,000 is an unlikely scenario in its current cycle. Electrical Cost Model Points To Potential Bitcoin Bottom In a June 6 post on X, crypto analyst Ted Pillows implied that the Bitcoin price might see further declines before a definitive bear market bottom is established. This conjecture is based on the Bitcoin Electrical Cost model.  For context, the model estimates Bitcoin’s fundamental production costs by measuring the electri...