Miller: Bitcoin Might Bottom Out at $60K
Analysis
Price Impact
MedBill miller iv's analysis suggests a potential bitcoin bottom at $60k, based on production cost and supply in loss. while a significant investor's view, it's a predictive statement rather than an immediate news catalyst.
Trustworthiness
MedBill miller iv is a reputable investor, and his analysis is based on historical patterns (3d rsi, supply in loss metrics) and fundamental factors (production cost). however, other experts (jpmorgan) offer differing production cost estimates, and market predictions are not guaranteed.
Price Direction
NeutralThe analysis identifies $60,000 as a potential bottom where 'weak hands' are shaken out and key metrics (production cost, supply in loss) align with historical market lows, potentially signaling stabilization or a future reversal.
Time Effect
ShortThe 3d rsi indicator, which has historically marked bear market bottoms, is currently in extremely oversold territory. this suggests a potential bottom within approximately 100 days if history repeats.
Original Article:
Article Content:
Cover image via www.youtube.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News The two key reasons Is the bottom actually near? Advertisement During the ongoing cryptocurrency market collapse, one question dominates: Where is the bottom? According to investor Bill Miller IV, $60,000 is the critical level where the market likely stabilizes, with "weak hands" being finally shaken out. The two key reasons Miller has pointed to the cash production cost of creating every new coin. HOT Stories Morning Crypto Report: XRP Officially Decouples From Bitcoin Amid $850 Million Bloodbath, Ripple's Main Japanese Ally to Launch Own Blockchain, Shiba Inu (SHIB) Eyes 26% Discount Thanks to Bear Market Mark Dow: I Want Bitcoin to Go to Zero If the market price drops below the cost to produce the asset, miners might be forced to either shut down their rigs to stop losing money or hoard their coins. Advertisement Notably, as reported by U.Today , JPMorgan recently estimated that Bitcoin's price is currently trading well below its production cost ($87,000). This is well above Miller's estimate. In a separate post, he has clarified that it excludes depreciation, meaning that it does not include the millions of dollars the miners already spent to buy the ASICs. You Might Also Like Thu, 02/05/2026 - 16:02 BlackRock Stuns Coinbase With Massive BTC, ETH Selling, What's Next? By Tomiwabold Olajide Miller has also noted that $60,000 is precisely where the percentage of supply in loss exceeds the percentage of supply in profit. This has had prior market bottoms. Advertisement Is the bottom actually near? If history is any guide, Bitcoin might actually be approaching a major bottom. The 3D RSI (3-day relative strength index), a momentum indicator used to measure whether an asset is "overbought," is currently in extremely oversold territory. Every time this happened, it marked the end of a bear market. There have been only four such occasions so far. For instance, the RSI hitting the aforementioned zone marked the exact bottom of the 2018 crash (near $3,200). Hence, if this time is not different, either the bottom is already in, or it will happen within roughly 100 days. #Bitcoin Price Prediction #Bill Miller