Bitcoin’s $63,000 zone emerges as key battleground for buyers: Glassnode
Market analysis from Glassnode indicates that the $63,000 price level has become a significant accumulation zone for Bitcoin. Data shows that both retail investors and large-scale holders are actively buying within this price range.
Why it matters
Identifying key support levels helps investors understand market sentiment and potential price stability for digital assets.
Glassnode’s Entity-Adjusted UTXO Realized Price Distribution (URPD) shows how much bitcoin supply last moved within each price band, with each entity’s balance assigned to its average acquisition price. More than 3% of the supply, approximately 515,000 BTC, is concentrated around $63,000, while more than 2%, or roughly 362,000 BTC, sits around $61,000.
Bitcoin is also trading almost exactly in line with its 200-week moving average, which tracks the asset’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 significant accumulation in this range.
Glassnode’s 30-day Accumulation Trend Score , broken down by wallet-size cohort, shows that retail investors are currently the most aggressive buyers at these prices. Every other cohort is also accumulating, including whales holding at least 1,000 BTC, which are showing similarly strong accumulation.
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