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Bitcoin consolidates near $63,000 as Glassnode flags large holder cost-basis cluster

Bitcoin consolidates near $63,000 as Glassnode flags large holder cost-basis cluster

Glassnode said more than 3% of BTC supply sits near $63,000, with price nearly matching its 200-week moving average and reinforcing that zone as key support.

BTC

Fact Check
The claim is directly confirmed by both cited primary sources. Glassnode's BTC Market Pulse Week 32 (Aug 3, 2026) states BTC trades ~$62.6k after failing to sustain above $66k, with weak spot demand and defensive/cautious derivatives positioning keeping it in consolidation. CryptoQuant's Quicktake confirms buyers built a 155,000 BTC cost-basis cluster at $62,000-$65,000, with spot volume at its lowest since late 2023 and weakened ETF flows ($61.5M weekly net outflows). Every specific element of the claim — the ~$62,600 price, weak spot demand, Glassnode's derivatives caution, and CryptoQuant's 155,000 BTC cluster at $62K-$65K with weakened spot volumes and ETF flows — matches the primary sources precisely.
Summary

Bitcoin has continued to trade between $60,000 and $67,000 as Glassnode said the area near $63,000 has become a major support and buyer-seller battleground. More than 3% of circulating supply, or about 515,000 BTC, has a holder cost basis around $63,000, while another 362,000 BTC is concentrated near $61,000. Glassnode said only the $78,000 to $82,000 range, linked to Bitcoin's May local top, has a denser supply cluster. The firm also said Bitcoin's price, at about $63,822, was almost identical to its 200-week moving average of roughly $63,657, underscoring the historical accumulation in that area.

Terms & Concepts
  • 200-week moving average: A long-term trend indicator based on Bitcoin's average price over the past 200 weeks, often watched as a major support or resistance level.
  • Cost basis: The average acquisition price of coins held by investors, often used to identify potential support or resistance zones.