Bitcoin Has Never Broken This Line Before And Price Just Touched It Again

Newsbtc2026/06/11 14:09

By:Newsbtc

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

Crypto analyst Crypto Rover has pointed to a trendline that Bitcoin has never broken below in every market cycle. The leading crypto has now touched this trendline, providing optimism that it could bounce from that level as it did in previous bear cycles.

Bitcoin Touches Trendline That Has Led To Parabolic Rallies

In an X post, Crypto Rover revealed that Bitcoin has again touched the trendline it has never broken below in 9 years. Instead, BTC has seen parabolic rallies whenever it touches this trendline. In 2017, it rallied 1,300% after touching this trendline; in 2018, it rallied 1,900% after touching it; and in 2020, it rallied another 1,900% after touching it. Bitcoin saw another parabolic rally of 700% after touching this trendline in 2022.

Now, Bitcoin has once again touched this trendline, offering optimism that it could bounce from this region as it did in past cycles. However, in another X post, Crypto Rover suggested that BTC has not yet found a bottom and could still drop below $60,000 before it bottoms. This came as the analyst alluded to BTC’s realized price.

var rnd = window.rnd || Math.floor(Math.random()*10e6); var pid607465 = window.pid607465 || rnd; var plc607465 = window.plc607465 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=172179;size=0x0;setID=607465;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid607465+';place='+(plc607465++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; document.write('

');

if (!window.AdButler){(function(){var s = document.createElement("script"); s.async = true; s.type = "text/javascript";s.src = "https://servedbyadbutler.com/app.js";var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n);}());}

Bitcoin Has Never Broken This Line Before And Price Just Touched It Again image 1

Source:

He noted that the short-term holders’ (STH) realized price at $74,000 has been reached, but that the realized price of $53,600 and the long-term holders’ (LTH) realized price of $50,000 have not been reached. Crypto Rover added that every prior cycle bottom has traded below the realized price and that every major flush has kissed the LTH line. As such, BTC is still likely to see another move down before it bottoms.

Bitcoin is also at risk of another decline with the U.S.-Iran war escalating again. The U.S. carried out strikes against military targets in Iran, which led to retaliatory attacks against U.S. military bases in the Gulf region.

A Drop Below $50,000 Is Also A Possibility

Crypto analyst Ali Martinez has indicated that Bitcoin could still drop below $50,000. This came as he pointed to the Investor Price, which he noted is currently $48,300. He said that this level is a key area he is watching for long-term accumulation. The analyst had described this metric as one of the most important BTC on-chain metrics.

var rnd = window.rnd || Math.floor(Math.random()*10e6); var pid607472 = window.pid607472 || rnd; var plc607472 = window.plc607472 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=172179;size=0x0;setID=607472;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid607472+';place='+(plc607472++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; document.write('

');

Martinez explained that this metric measures the average acquisition price of all economically circulating Bitcoin, filtering out permanently lost coins to provide a more realistic market-wide cost basis. However, it is worth noting that the analyst had earlier said that there were signs that BTC was about to reach a market bottom. He pointed to the 1.0-0.8 MVRV bands, which align at $53,900 and $43,150.

At the time of writing, the Bitcoin price is trading at around $62,600, up in the last 24 hours.

BTC trading at $62,728 on the 1D chart | Source: BTCUSDT on

var rnd = window.rnd || Math.floor(Math.random()*10e6); var pid607473 = window.pid607473 || rnd; var plc607473 = window.plc607473 || 0; var abkw = window.abkw || ''; var absrc = 'https://servedbyadbutler.com/adserve/;ID=172179;size=0x0;setID=607473;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid607473+';place='+(plc607473++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; document.write('

');

if (!window.AdButler){(function(){var s = document.createElement("script"); s.async = true; s.type = "text/javascript";s.src = 'https://servedbyadbutler.com/app.js';var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n);}());}

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

At Wednesday’s US stock market close, strong earnings reports and financing plans from CoreWeave drove collective gains in the storage chip, AI chip, optical interconnect, and new cloud sectors. CoreWeave and Nebius surged by approximately 24.7% and 15.4%, respectively. However, after the bell, media reports regarding another extramarital affair involving Jensen Huang and discussions by the board about his tenure caused Nvidia to drop more than 8%, putting pressure on the prices of most AI computing power-related stocks.

智通财经•2026/11/12 07:14

With CoreWeave fueling the AI frenzy, can Nebius (NBIS.US) defend the AI computing power rally with explosive performance?

Morgan Stanley: The expansion value of BHP South Australia copper mine is still underestimated, on-site inspection may become a catalyst for revaluation, “Overweight” rating maintained.

Morgan Stanley released a research report, maintaining an "Overweight" rating on BHP Group Limited (Australian shares) and a target price of 68 AUD.

智通财经•2026/11/12 07:06

Morgan Stanley: The expansion value of BHP South Australia copper mine is still underestimated, on-site inspection may become a catalyst for revaluation, “Overweight” rating maintained.

Deutsche Bank remains bullish on Palo Alto Networks (PANW.US) ahead of earnings: Q1 results expected to be solid, platform advantages will help expand market share.

Deutsche Bank's latest research report predicts that Palo Alto Networks will deliver solid performance in the first quarter, with all key metrics exceeding market expectations, although the margin of outperformance may narrow compared to the previous quarter.

智通财经•2026/11/12 07:02

On the eve of Anthropic (ANT.US) IPO: $19 billion in passive buying on the way, will “SpaceX-style” index arbitrage be repeated?

From SpaceX to Anthropic: Giant new listings adopt a new approach.

智通财经•2026/11/12 06:52