JPMorgan: The downward space for Bitcoin is "very limited" at the current level.

Analysts at JPMorgan Chase said that from current levels, the downward potential for Bitcoin seems "very limited," and they believe that the support price for Bitcoin is around $94,000. The analyst team, led by Managing Director Nikolaos Panigirtzoglou, pointed out in a report on Wednesday that the estimated production cost of Bitcoin - historically, this cost has always been the bottom support level of Bitcoin prices - has risen from a recent estimate of around $92,000 to about $94,000.