Alex Dudov
⬤ Bitcoin is drawing attention around the $58,000 mark after Kalshi prediction markets flagged this level as a key target for 2026. The price zone lines up with a major long-term technical indicator on the weekly chart.
⬤ The 300-week exponential moving average is climbing steadily and currently sits in the mid-$50,000 range, placing it near the forecasted $58,000 zone. What makes this level particularly interesting is that it also matches the estimated electrical cost of mining Bitcoin, creating a three-way convergence between market expectations, technical support, and production economics.
⬤ Right now, Bitcoin is trading above its 300-week EMA but has pulled back from recent highs into the mid-$60,000 area. As the moving average trends upward, the gap between current price and this baseline support is narrowing, putting more focus on what happens around $58,000.
⬤ When prediction markets, long-term moving averages, and mining cost estimates all point to the same price zone, it tends to become a focal point for traders. This convergence creates a structurally significant level that could influence how the market behaves if Bitcoin tests that area.
Alex Dudov
