Bitcoin price climbed more than 7% today, pushing above $69,000 and marking one of its strongest daily moves during months of sell-offs.

The rally follows weeks of compressed trading and comes as several price-based and miner-linked signals point to exhaustion in the recent drawdown.

The bitcoin price fell close to 50% from its early-October high near $125,000 to a February low around $60,000. That decline placed bitcoin below its estimated average production cost for the first time since late 2022, a zone that has often aligned with late-stage selling and price stabilization. 

Current estimates put average production near $66,000, meaning the market has spent weeks pricing…

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