Glassnode data cited by CoinDesk shows a large cluster of bitcoin supply concentrated near $63,000, making the level an important market battleground. Retail investors and large whales are both accumulating while bitcoin trades close to its 200-week moving average.
Glassnode data cited by CoinDesk shows a large cluster of bitcoin supply concentrated near $63,000, making the level an important market battleground. Retail investors and large whales are both accumulating while bitcoin trades close to its 200-week moving average.
Bitcoin’s recent trading range has put the $63,000 zone in focus, according to Glassnode data reported by CoinDesk. Roughly 515,000 BTC, or more than 3% of circulating supply, is concentrated around that price level, making it one of the largest recent supply clusters in the market.
Bitcoin’s recent trading range has put the $63,000 zone in focus, according to Glassnode data reported by CoinDesk. Roughly 515,000 BTC, or more than 3% of circulating supply, is concentrated around that price level, making it one of the largest recent supply clusters in the market.
The level matters because it shows where a significant amount of bitcoin last changed hands. When many holders have a similar cost basis, that area can become important for market behavior, as buyers and sellers reassess positions when price revisits the zone.
Bitcoin has traded between $60,000 and $67,000 for several weeks, CoinDesk reported. Glassnode’s Entity-Adjusted UTXO Realized Price Distribution also showed more than 2% of supply, or about 362,000 BTC, concentrated around $61,000.
The market is also sitting near a long-term technical benchmark. CoinDesk said bitcoin was trading close to its 200-week moving average, with the indicator at $63,657 compared with bitcoin’s price of $63,822 at the time of the report.
Glassnode’s 30-day Accumulation Trend Score showed buying across wallet cohorts. Retail investors were described as the most aggressive buyers at these prices, while whales holding at least 1,000 BTC were also showing strong accumulation.
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