You’ll Never See Bitcoin at $60K Again

According to research from Cambridge University — which tracks cryptocurrency mining on a global scale — the cost of mining one Bitcoin this cycle has been around $60K.

The mining cost floor has historically acted as a turning point for Bitcoin during crypto winters. This cycle was the first time BTC reversed before even reaching that level. Institutional inflows into Bitcoin ETFs kept the drawdown from hitting the typical 80% crypto winter wipeout.

Now that Bitcoin's bottom is in, the cycle playbook says price should keep climbing until the 2028 halving — and for at least nine months beyond that. The halving will roughly double mining costs, pushing the breakeven level to around $120K. That line will then become the floor for the next crypto winter.