Bitcoin trading around $64,000, marking 307 days within the $60,000-$70,000 range.
The consolidation interval is now the third-longest period spent in a $10,000 price band in bitcoin history, trailing only $10,000-$20,000 and $20,000-$30,000 during the bear markets of 2018 and 2022, respectively, according to Glassnode data.
From a technical perspective, bitcoin continues to trade above its 200-week moving average, currently around $62,873. Historically, prolonged moves below this level have been short-lived, making it a closely watched measure of the long-term trend.
Despite holding close to $64,000, bitcoin remains about 50% below the all-time high reached in October.
Onchain data also points to a significant support area. Glassnode’s Entity Adjusted UTXO Realized Price Distribution, which tracks the price at which bitcoin last changed hands between economic entities, shows that about 6% of the circulating supply is between $58,000 and $64,000.
Whether this range ultimately resolves higher or lower remains uncertain, but the prolonged sideways trade has established one of bitcoin’s largest cost-based clusters to date.
