Bitcoin Holds Near $63,000 as Whales Keep Buying

Glassnode sees a dense supply cluster around $63,000, while whales holding 1,000 BTC or more are still adding. The 200-week moving average is nearby too, which makes this level even more important.

Key Takeaways

• Bitcoin has been stuck between $60,000 and $67,000 for weeks, turning $63,000 into a crowded price area with more than 3% of the supply.
• The 200-week moving average sits at $63,657, just below Bitcoin’s current price of $63,822, and has often served as key support.
• Glassnode says both retail investors and whales with at least 1,000 BTC are still buying at these levels.

Bitcoin has spent weeks trading between $60,000 (€52,100) and $67,000 (€58,200), and that has turned $63,000 (€54,700) into one of the most congested areas on the chart. Glassnode says more than 3% of the supply, or about 515,000 BTC, is sitting there, while just over 2% is clustered around $61,000 (€53,000). That puts this range squarely in focus for both buyers and sellers.

Strong Cluster Around $63,000 (€54,700)

Glassnode’s analysis of the Entity-Adjusted UTXO Realized Price Distribution shows where bitcoin last moved between wallets. The metric groups holdings by entity and estimates the average price at which each balance was built. Outside the $63,000 (€54,700) cluster, the next major concentration is between $78,000 (€67,700) and $82,000 (€71,200), which is the zone where Bitcoin topped out in May.

The 200-week moving average is also sitting close to spot. This indicator measures the average weekly closing price over the past 200 weeks and currently stands at $63,657 (€55,300), compared with Bitcoin’s price of $63,822 (€55,400). In past bear markets, that level has often acted as a major support line, with price either bouncing from it or briefly slipping below it.

Retail and Whales Are Buying the Dip

Glassnode’s 30-day Accumulation Trend Score shows that retail investors are currently the most active buyers at these prices. But they are not the only ones stepping in. The data also points to accumulation from larger holders, including whales with at least 1,000 BTC. In other words, both smaller traders and big wallets are adding exposure around the current range.

That mix of heavy supply near $63,000 (€54,700) and broad accumulation across different wallet groups makes this level especially important for the crypto market. For European crypto readers, the key point is that onchain data like this often shows where the market is building pressure before a clear breakout or breakdown appears.