Bitcoin's $60,000-$70,000 range becomes third most traded range in history
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Bitcoin has been trading within a $60,000 to $70,000 range for 307 days, marking the third longest consolidation period within any $10,000 price band since its inception. According to Glassnode, only the $10,000-$20,000 range during the 2018 bear market and the $20,000-$30,000 range of 2022 saw longer consolidations. The current trading price around $64,000 is above the 200-week moving average, currently near $62,873, a key technical level historically supporting Bitcoin’s long-term trend.
On-chain analysis reveals that approximately 6% of Bitcoin’s circulating supply last moved at prices between $58,000 and $64,000. This has resulted in a notable cluster of cost-basis positions, potentially forming a support zone for Bitcoin near current levels. While Bitcoin remains about 50% below its all-time high reached in October, the stability within this range indicates a period of price discovery and accumulation.
The importance of this prolonged consolidation lies in its role in shaping future price direction. Long-term cost-basis clusters often act as strong support or resistance zones, meaning that this range could either underpin a future breakout upwards or serve as a floor in the event of downward pressure. However, the market remains uncertain whether Bitcoin will ultimately move higher or lower from this level.
This extended sideways movement contrasts with recent broader market trends, where digital assets experienced a third consecutive quarter of losses in Q2 2026. Institutional investors have been shifting capital towards AI equities, and Bitcoin ETFs saw their largest quarterly outflows since their inception. Despite this, structural adoption of Bitcoin and blockchain technology continues, suggesting that the current consolidation phase may be preparing the asset for the next significant move.