Analysts See Bitcoin Support Around Mining Cost Levels

Jack Bowman believes Bitcoin (BTC-USD) is showing solid structural support, noting that $94,000 is roughly the cost to mine one BTC. He argues that miners may prefer to buy Bitcoin rather than mine it below this price, creating strong buying pressure and helping form a floor.

However, Bowman remains cautious on altcoins, saying institutional demand is far weaker compared to Bitcoin. Even with Ethereum (ETH-USD) and Solana (SOL-USD) gaining ETF attention, he warns that “selling risk” could still push altcoins sharply lower.

Bowman’s stance:

Not buying any crypto right now
Not selling his Bitcoin allocation
Avoiding altcoins due to asymmetric downside risk

Technical Levels Highlighted for Key Cryptos

Mike Fay expects the market has not bottomed yet, but sees major support levels forming:

Solana (SOL-USD): $120 is a key level that could attract buyers
Ethereum (ETH-USD): A weekly close below $2,500 would be “very surprising”
Bitcoin (BTC-USD): Should stabilize between $80K–$82K

Fay suggests a potential bottoming zone, but not a confirmed bottom.

Macro Factors May Delay Crypto Bottom

Mandela Amoussou argues that traditional crypto cycles have been disrupted:

The four-year halving cycle is no longer a reliable benchmark
Retail traders are no longer the primary market driver
ETFs and corporate treasury strategies now dominate flows

He emphasizes that macro sentiment will determine the true bottom. With the U.S. Dollar Index (DXY) continuing to strengthen, he expects more downside in risk-beta assets like crypto.

Amoussou’s view:

Bitcoin and crypto have not bottomed yet
Dollar strength could extend the correction

Market Outlook

Across all three experts, a common thread emerges:

Bitcoin has stronger structural support
Altcoins face steeper downside risks
Macro conditions will largely influence whether the market finds a durable floor