Bitcoin BTC$64,288.86 has been trading around $64,000 and has logged 307 days within a range of $60,000 to $70,000.
According to Glassnode data, this price range is currently the third longest period spent in the $10,000 price range in Bitcoin history, behind the $10,000-20,000 and $20,000-30,000 ranges of the 2018 and 2022 bear markets, respectively.
From a technical perspective, Bitcoin continues to trade above its 200-week moving average, which is currently around $62,873. Historically, prolonged movements below this level have been short-lived and are closely monitored as indicators of long-term trends.
Despite holding near $64,000, Bitcoin remains about 50% below its all-time high reached in October.
On-chain data also indicates key areas of support. Glassnode’s Entity Adjusted UTXO Realized Price Distribution, which tracks the price at which Bitcoin was last traded between economic entities, shows that approximately 6% of the circulating supply is between $58,000 and $64,000.
While it remains unclear whether this range will ultimately rise or fall, the extended sideways trade has established one of Bitcoin’s largest cost-based clusters to date.
