CEO warns Bitcoin falling below $60,490 deepens bear market
$60,490 is Binance’s Bitcoin cost basis, Alphractal warns
Bitcoin nears a decisive line. A break risks faster downside per market setup and could accelerate the selloff per recent signals.
Joao Wedson, Alphractal’s founder, issued the alert on X. He cites $60,490 as Binance’s BTC reserve realized price per on‑chain data.
Above it, reserves sit in profit. Below it, unrealized losses appear if the drop persists.
That line can act structurally. Holders in profit feel less pressure to sell per behavior data.
Why it matters
- Realized price often sets boundaries for major reserves
- 2022 kept BTC under this line for months per Wedson’s comparison
- A decisive loss removes the cushion and risks mid‑$50Ks per prior levels
Psychology can amplify moves. A breach could weaken confidence across participants and feed fear‑driven selling as declines compound.
Wedson sees two paths. Hold above, stability can persist. Lose it, bear pressure may deepen as structure shifts.
