Bitcoin's $60,000-$70,000 range becomes third longest consolidation in history
Bitcoin has consolidated in the $60,000-$70,000 range for 307 days, marking the third longest consolidation in its history. About 6% of circulating supply last moved between $58,000-$64,000, creating substantial support. The coin trades above its 200-week moving average, a key long-term trend indicator. Traders await resolution whether this prolonged sideways movement breaks higher or lower.
Key takeaways
- 1Bitcoin consolidated in $60,000-$70,000 range for 307 days, third longest consolidation in history.
- 26% of circulating supply last moved between $58,000-$64,000, creating major support cluster.
- 3Bitcoin trades above 200-week moving average at $62,873, historically reliable long-term trend indicator.
Coins in this story
Why it matters
Extended consolidation with strong on-chain support suggests potential for significant directional breakout; Indian investors should monitor whether Bitcoin breaks above or below this range as it could signal major trend shift affecting portfolio allocations.
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