Roughly 515,000 BTC — more than 3% of the circulating supply — is now concentrated around the $63,000 price level, Glassnode data shows. Retail investors and whales holding at least 1,000 BTC are both accumulating there as bitcoin trades almost exactly at its 200-week moving average. Separate technical analysis points to a $62,000-$66,000 range, with resistance from longer-term moving averages still capping any recovery.
Roughly 515,000 BTC, more than 3% of the circulating supply, is concentrated around the $63,000 price level, according to Glassnode's Entity-Adjusted UTXO Realized Price Distribution. Another roughly 362,000 BTC, more than 2% of supply, sits around $61,000. The only larger concentration on the chart sits between $78,000 and $82,000, where bitcoin topped out in May.
Every Wallet Cohort Is Buying
Bitcoin has traded between $60,000 and $67,000 for several weeks, making $63,000 one of the heaviest-supplied areas in that range. Glassnode's 30-day Accumulation Trend Score shows retail investors as the most aggressive buyers at these prices, while whales holding at least 1,000 BTC are showing similarly strong accumulation. Every other wallet cohort is buying as well, the data shows.
The asset is also trading almost exactly in line with its 200-week moving average, which tracks bitcoin's average weekly price over the past 200 weeks. The indicator currently stands at $63,657, compared with bitcoin's price of $63,822, highlighting the accumulation in this range.
A Range Still Capped by Resistance
Separate technical analysis from CryptoPotato shows BTC continuing to trade around $63.5K after spending several weeks ranging beneath the $67K resistance zone. The broader trend stays bearish as price trades below both the 100-day and 200-day moving averages, which slope downward around the $68K and $70K regions, reinforcing resistance above the market.
On the downside, the first demand area remains at $60K, where buyers previously stepped in after the June decline; below that, the final major support sits around $54K. Momentum stays muted, with the RSI hovering near 50, reflecting a balanced market with neither buyers nor sellers in control.
The Coinbase Premium Index also points to caution, remaining below zero at around -0.08, which indicates BTC is trading at a discount on Coinbase relative to offshore exchanges. As long as BTC holds above $62K, another push toward $66K remains possible, though a break below that level would expose the $60K demand zone again.
Sources: CoinDesk, CryptoPotato
Trading involves risk.
Risk Disclaimer
