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

Persistence within the present market is unquestionably getting examined.

From a technical angle, issues have turned extra bearish.

After two weeks of tight consolidation, the full crypto market dropped 3.81% on the twenty third of February, erasing $90 billion and shifting momentum to the draw back.

Notably, 60%+ of these outflows got here from Bitcoin [BTC], confirming that the transfer was largely BTC-led. In consequence, as soon as BTC misplaced the $65k vary, it triggered one other wave of lengthy liquidations, suggesting that bears have taken management, no less than for now.

Supply: TradingView (BTC/USDT)

That brings up the plain query: Is $60k now the near-term backside?

To date, spot demand hasn’t proven a powerful response.

In the meantime, Bitcoin ETF flows stay unfavourable, pointing to a scarcity of dip shopping for. In different phrases, the market doesn’t yet show strong signs of conviction, which may imply buyers are ready for a deeper pullback earlier than stepping in.

And with endurance already sporting skinny, this setup solely provides strain. If patrons don’t present up quickly, the chance of a capitulation wave begins to construct. In that context, calling $60k the definitive backside is perhaps untimely.

Fading assist places Bitcoin miner resilience to the check

The price of mining a Bitcoin is a key metric to observe.

Proper now, Bitcoin’s “Electrical Price” has dropped to round $53,500, down from $60,000 a month in the past and $71,000 in This fall 2025. In easy phrases, it’s getting cheaper to mine BTC. That often occurs when weaker miners shut down and community issue adjusts decrease.

Traditionally, BTC tends to discover a backside above its Electrical Price, as weaker miners exit, provide strain eases, and worth begins to stabilize. In that context, the $60k stage nonetheless seems to be an affordable assist zone.

Supply: TradingView

Nonetheless, the present setup makes issues a bit difficult. 

Spot demand continues to be weak, which is limiting any upside momentum and elevating the chance of a deeper pullback. In consequence, some analysts think the Electrical Price may drop nearer to $45k earlier than Bitcoin truly bottoms.

Merely put, miner capitulation threat hasn’t absolutely light but. Until spot patrons are available in with actual conviction and manufacturing prices cease sliding, the $60k stage seems to be shaky, and that makes a breakdown threat exhausting to disregard.

Closing Abstract

• Bitcoin has misplaced key assist, ETF flows stay unfavourable, and spot patrons aren’t stepping in, making $60k appear like fragile assist moderately than a confirmed backside.
• BTC electrical price has fallen to $53.5k and will drop towards $45k, signaling ongoing miner stress, which means capitulation threat hasn’t absolutely cleared but.