Bitcoin (BTC) is defending the $61,000 support zone as on-chain data reveals strong investor accumulation. Long-term holder supply has reached a record high, reducing available market supply. Analysts identify $84,000 as the next major resistance level should current support hold. Bitcoin is trading at $65,083 with a market capitalization of $1.3 trillion, despite a 1.42% decline over the past 24 hours.
Bitcoin (BTC) is trading at $65,083.18 with a 24-hour volume of $24.13 billion and a market cap of $1.3 trillion. The asset is down 1.42% in the last 24 hours, but price structure points to a potential bullish reversal.
According to crypto analyst Ali Charts, Bitcoin is building a strong support foundation between $63,111 and $61,840. On-chain data shows more than 1.3 million BTC exchanged within that range, suggesting strong investor interest.
As long as BTC holds this support zone, on-chain metrics indicate limited supply resistance until $84,569. At that level, around 582,000 BTC previously changed hands.
Crypto analyst CryptoJack highlighted that Bitcoin’s long-term holder supply has reached an all-time high. This indicates increasing investor confidence and growing accumulation trends.
The increase reflects more Bitcoin moved into long-term holding wallets, reducing the amount available for trading. Such a trend has typically been observed during accumulation phases before market upturns.
Long-term hodlers’ growing influence suggests investors are focusing on Bitcoin’s future prospects rather than its current value. With fewer coins on exchanges, supply pressure could increase as demand rises.
The future of Bitcoin depends on staying above the $61,000 support. If buyers remain firm, the asset could move toward the $84,000 resistance as accumulation continues. A drop below this key level would lead to further downside.
