BEARISH 📉 : Analyst says electrical cost model sets Bitcoin floor near $50,000
Electrical Cost model points to a ~$50k floor for Bitcoin. $25k calls look unlikely this cycle, per on-chain analysis.
Weeks of bearish structure set the stage. Technicals flash weak, but outflows hint at accumulation on Binance.
- Electrical Cost sits near $48,694. Analyst Ted Pillows says past bear markets bottomed around miners’ power cost and never sustained breaks below it, implying support near $50k if the drop extends
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- Caveat from Pillows. Only an extraordinary shock like a deep recession or COVID-level event could push price temporarily below production cost
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- Binance flow signals. CryptoQuant notes negative Exchange Netflows on Binance (-0.58σ), suggesting steady withdrawals and quiet accumulation despite a bearish RSI near 6.4 and an EMA50/200 Death Cross. Risk of a long squeeze remains with high open interest
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- Market context. Recent weeks show a persistent bearish structure for BTC
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