The first power spectrum limit on the 21-cm signal of neutral hydrogen during the Cosmic Dawn at $z=20-25$ from LOFAR.

Observations of the redshifted 21-cm hyperfine line of neutral hydrogen from early phases of the Universe such as Cosmic Dawn and the Epoch of Reionization promise to open a new window onto the early formation of stars and galaxies. We present the first upper limits on the power spectrum of redshifted 21-cm brightness temperature fluctuations in the redshift range $z = 19.8 - 25.2$ ($54-68$ MHz frequency range) using 14 hours of data obtained with the LOFAR-Low Band Antenna (LBA) array. We also demonstrate the application of a multiple pointing calibration technique to calibrate the LOFAR-LBA dual-pointing observations centered on the North Celestial Pole and the radio galaxy 3C220.3. We observe an unexplained excess of $\sim 30-50\%$ in Stokes $I$ noise compared to Stokes $V$ for the two observed fields, which decorrelates on $\gtrsim 12$ seconds and might have a physical origin. We also show that enforcing smoothness of gain errors along frequency during calibration reduces the additional noise in Stokes $I$ compared Stokes $V$ introduced by the calibration on sub-band level. After subtraction of smooth foregrounds, we achieve a systematics-limited $2\sigma$ upper limit on the 21-cm power spectrum of $\Delta_{21}^2 < (14561\,\text{mK})^2$ at $k\sim 0.038\,h\,\text{cMpc}^{-1}$ and $\Delta_{21}^2 < (14886\,\text{mK})^2$ at $k\sim 0.038 \,h\,\text{cMpc}^{-1}$ for the 3C220 and NCP fields respectively. Both upper limits are consistent with each other and with the thermal noise in the data.