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Bitcoin holds near $63,000 ahead of Aug. 12 CPI as $69,000 caps buyers
Glassnode data shows about a tenth of Bitcoin’s circulating supply last changed hands near $63,000, while recent buyers’ short-term cost basis clusters around $69,000.
Bitcoin was trading near $64,000 as traders looked to the Aug. 12 US CPI release, with on-chain data pointing to a major demand concentration around $63,000 and a separate resistance area near $69,000, according to CryptoSlate.
Glassnode’s on-chain map places the $63,000 “shelf” where roughly a tenth of the circulating supply last changed hands, framing it as the closest nearby level that could act as a floor if the CPI print cools.
CryptoSlate also cited that the short-term holder cost basis is near $69,000, a zone tied to breakeven for recent buyers. If price lifts enough to clear that level, the supply profile could become thinner near current ranges, with Glassnode’s next structural reference around $84,000.
Ahead of CPI, CryptoSlate noted Reuters surveys expecting headline inflation of 3.4% year-over-year and core inflation of 2.5%, down from June’s 3.5% and 2.6%. The outlet also referenced July’s jobs report showing payrolls fell by 23,000 versus expectations for an 80,000 gain, with May and June revised down by a combined 103,000.
Latest closeBitcoin $84,310.25 ▼0.1%