[Analysis: BTC Approaching 'Historical Average Transfer Cost' Line, Breaking Below May Enter Deep Bear Phase] BlockBeats News, February 23, crypto analyst Murphy stated that BTC is still fluctuating around $65,000, a position close to the range of the <10y_RP indicator. This indicator, after excluding the cost impact of most lost BTC, is considered a 'historical average transfer cost' closer to the true level. This range may serve as a critical psychological and cost defense line for bulls. If it is effectively breached, it could indicate that the current downward trend is likely to continue into a deep bear phase.