BlockBeats News, on March 2nd, on-chain analyst Murphy stated that the “historical average turnover cost” of BTC is very effective in gauging market sentiment. When the price approaches around $64,500, the historical average turnover cost, it reaches the market’s psychological limit. Recently, Bitcoin’s price has repeatedly fallen below this level on February 23-24 and February 27-28, then rebounded again. The bulls show very strong resistance at this sensitive level.
Currently, concerns over the US-Iran geopolitical conflict have been confirmed, and the focus will shift to the scope of the conflict, its duration, and its impact on crude oil prices. This weekend, it was observed that without significant participation from institutions and market makers, the bearish forces are insufficient to quickly push BTC below $60,000. The support level of the historical average turnover cost of $64,500 will be reaffirmed after the US stock market opens today.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC 15-minute rise of 0.48%: Whale withdrawals and ETF fund flows work together to ease selling pressure
2026-03-31 13:45 to 14:00 (UTC), the BTC price ranged between 66,978.1 and 67,410.8 USDT, with the 15-minute return recording +0.48% and a range of 0.65%. During this time window, market attention increased, on-chain and exchange interaction activity intensified, and volatility characteristics became pronounced.
The main driving force behind this unusual move is whale large-capital withdrawal behavior from exchanges. On-chain data shows that whale wallets withdrew about $4.2 million worth of BTC within 10 minutes; in the past 24 hours, there were a total of 1,633 large BTC outflows, directly leading to the trading decline and increased market volatility.
GateNews32m ago
Bitcoin vs Gold and Silver: Why One Analyst Calls BTC a “Generational Wealth Machine”
A simple comparison between Bitcoin, gold, and silver has brought back an uncomfortable question for traditional investors. Three assets faced the same world events since 2011, yet the outcomes look completely different when the numbers are placed side by side.
That comparison starts with a
CaptainAltcoin33m ago
Bitcoin miner Bitfarms plans to sell $161 million worth of BTC and pivot to building AI infrastructure
Bitcoin mining company Bitfarms announced that it will move its registration to the United States and rename itself to Keel Infrastructure, focusing on digital infrastructure development. The new stock ticker KEEL will become effective on April 1. The company will pivot into a developer centered on power, plans to expand into power-constrained markets, and will invest its funding into high-performance computing and AI infrastructure.
GateNews47m ago
CoinDesk 20 performance update: Bitcoin Cash (BCH) gains 1.5% as index trades flat
CoinDesk Indices reports that the CoinDesk 20 Index is at 1911.41, up 0.1%. Thirteen of the 20 assets rose, with NEAR and BCH leading, while HBAR and XLM lagged. The index reflects global trading across various platforms.
CoinDesk48m ago
