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Bitcoin Tests $62,400 200-Week Moving Average; On-Chain Data Suggests $50K-$54K Bear Market Floor

GateNews
On-Chain DataMarket AnalysisPrice Prediction
BTC-2.15%

According to CoinDesk, Bitcoin is currently testing the 200-week moving average around $62,400. If this support level breaks, the market focus may shift to the realized price of approximately $53,457, which represents the average on-chain holding cost across the entire Bitcoin network.

On-chain data suggests the bear market bottom could form in the $50,000 to $54,000 range. Whale holders (1 million to 100,000 BTC) have an average cost basis around $54,300, while mega-holders (over 100,000 BTC) average below $49,000. If large investors defend near their cost levels, the floor may stabilize within that zone.

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