Bitcoin's price briefly touched the $60,000 to $63,000 bid cluster, the largest concentration of bids on the on-chain map and a level flagged by analysts as a key support zone.
The move validates prior on-chain signals. Analysts had identified the rally as built on thin volume, reflecting weak buying pressure. Over recent weeks, on-chain data showed consistent outflows from active bids—a decline in aggregate demand that suggested weakening conviction among market participants.
The $60,000 to $63,000 cluster represents accumulated bids that had sat below the prevailing price for several weeks. A sustained break below this level could force a deeper repricing.
The Crypto Fear & Greed Index stands at 10, reflecting extreme fear.
