Crypto
Home›Crypto›Market Structure›Bitcoin’s $63,000 area draws heavy accumulation as wha…
Bitcoin’s $63,000 area draws heavy accumulation as whales and retail buy
On Glassnode data, about 515,000 BTC, more than 3% of circulating supply, is concentrated around $63,000 as bitcoin trades close to its 200-week moving average near $63,657.
CoinDesk reports that roughly 515,000 BTC, or more than 3% of bitcoin’s circulating supply, is concentrated around the $63,000 price level, making that zone a focal point for current demand.
According to Glassnode’s Entity-Adjusted UTXO Realized Price Distribution, all wallet cohorts are accumulating, with retail investors and whales holding at least 1,000 BTC showing the strongest buying activity at these prices.
Bitcoin has been trading in a range between $60,000 and $67,000 for several weeks, and Glassnode notes that the supply concentration at $63,000 is one of the highest, with the only larger band near $78,000 to $82,000 where bitcoin topped out in May.
Glassnode also says bitcoin is trading almost exactly in line with its 200-week moving average, which stands at $63,657 versus a bitcoin price of $63,822, while the 30-day Accumulation Trend Score indicates retail buyers are the most aggressive among wallet-size cohorts.
Latest closeBitcoin $64,040.55 ▲0.9%