Bitcoin Holds Key Support as On-Chain Data Shows Fresh Accumulation

Recent on-chain data shows roughly 155,000 BTC moved into the $62,000 to $65,000 cost-basis range during the pullback. Bitcoin finished July on a strong note before losing momentum at the start of August with two straight daily closes below $63,000. The decline has raised fresh caution even as blockchain data points to steady buying around current price levels. That buying activity became clearer in recent on-chain data, which shows roughly 155,000 BTC moved into the $62,000 to $65,000 cost-basis range during the latest pullback. The zone now holds the largest concentration of supply across the market and represents about 0.7% of Bitcoin’s circulating supply. Accumulation Continues Despite Price Weakness According to the recent Bitfinex report, the supply cluster expanded while prices declined instead of shrinking through broad selling activity. The report said the pattern suggests buyers absorbed selling pressure rather than existing holders leaving the market in large numbers. The data also highlights different behavior between long-term and short-term holders during the recent decline. Long-term holders continued accumulating Bitcoin, while many short-term holders reduced positi...