Analyst Murphy has identified a potential support level for Bitcoin at $60,000, based on historical data from previous bear markets. In February 2019 and January 2022, Bitcoin's bear market bottoms coincided with 10.6 million BTC being lost. Murphy suggests that if this pattern repeats, the current bear market could see a similar bottom at $60,000. On February 5, 2026, Bitcoin's price dropped to $60,000, with lost coins nearing 9.93 million. Should Bitcoin revisit this price, the number of lost BTC could reach 10.6 million, aligning with past market bottoms.
Analyst Predicts $60K as Potential Support for Bitcoin Amid Bear Market
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