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BlockBeats News, February 23 — Crypto analyst Murphy stated that BTC is currently fluctuating around $65,000, a position close to the range where the <10y_RP indicator is located. This indicator, after excluding the impact of the majority of lost BTC costs, is considered to be closer to the true level known as the "historical average cost basis." This range may serve as an important psychological and cost defense line for the bulls. Once it is effectively broken below, it could mean that the current downward trend will continue to deepen into a bear market path with a high probability.