Bitcoin's $63,000 area firms up as key support and accumulation zone

ChainCatcher cited Glassnode data showing the $63,000 level has become a major support zone and a focal point for the current tug-of-war between bulls and bears in Bitcoin (BTC). Over the past several weeks, BTC has largely traded in a $60,000–$67,000 band. More than 3% of circulating supply—about 515,000 BTC—is held at an average cost basis near $63,000, with another 362,000 BTC clustered around $61,000. Glassnode said the only area with higher supply density lies between $78,000 and $82,000, corresponding to Bitcoin's phase peak in May. BTC is also trading close to its 200-week moving average, which Glassnode puts at roughly $63,657 versus a spot price near $63,822, pointing to historically heavy accumulation and strong cost support around current levels. Based on the 30-day Accumulation Trend Score, all investor cohorts are in net accumulation, led by the strongest buying from retail participants. Whale addresses holding more than 1,000 BTC have continued adding to positions, signaling ongoing deployment of long-term capital. The $63,000 zone is now a pivotal band in Bitcoin's short-term market structure, and continued accumulation may be an important indicator for the next directional move.