A compelling pattern emerges when examining Bitcoin's historical price movements: the world's leading cryptocurrency has consistently resisted sustained trading below its electrical production cost. This floor—determined by the aggregate power expenses of miners globally—appears to act as a natural economic barrier. When BTC dips toward these levels, the mining landscape typically responds through equilibrium adjustments: unprofitable operations shut down, network difficulty recalibrates, and supply pressures ease. Whether this represents pure market efficiency or a reflection of miners' collective behavior remains debatable, but the historical data tells a clear story. Understanding this production-cost floor offers crucial perspective for anyone evaluating Bitcoin's long-term value propositions and market cycles.