Glassnode Highlights Key Demand Cluster For Bitcoin

Bitcoin is evolving in a pivotal zone. Below 70,000 dollars, the market is looking for a balance point after several weeks of pressure. A recent analysis highlights the role of investors who entered in the first half of 2024, whose positions concentrated between 60,000 and 69,000 dollars are currently stabilizing prices. Meanwhile, some traders anticipate a move toward 52,000 dollars. Between structural support and risk of breakdown, the short-term trajectory remains uncertain.

Buyers of the first half of 2024 defend the 60,000–69,000 $ zone

While Bitcoin just lost 55% of its open interest, in the latest edition of “The Week Onchain”, the analysis platform Glassnode identifies a key zone currently absorbing selling pressure.

The main points advanced are as follows :

• Bitcoin is trading about 45 % below its all-time highs of October 2025 ;
• The price has fallen below the True Market Mean located around 80,000 dollars ;
• A “dense demand zone” extends between 60,000 and 69,000 dollars ;
• This zone corresponds to the consolidation phase of the first half of 2024 ;
• Investors who accumulated during this period have held their positions for over a year.

Glassnode specifies “that a deeper analysis of the price evolution since the break below the True Market Mean shows that the bearish pressure has been largely absorbed within a strong demand zone located between 60,000 and 69,000 dollars”.

The report adds that “the positioning of this group of investors near their break-even point seems to have mitigated additional selling pressure”, contributing to the establishment of a sideways structure since late January. At this stage, no major capitulation has been observed within this cohort.

Traders anticipate a new correction toward 52,000 $

Alongside this absorption zone, several market participants believe the current support might break. Trader Roman projects a short-term bearish scenario. He states: “I expect a quick rebound to reset the indicators, then an immediate resumption of the decline. I remain convinced that 52,000–53,000 dollars will be reached within the week or in the coming days”. His hypothesis is based on a temporary technical rebound of Bitcoin intended to reset some indicators before the decline resumes.

The shared chart reveals the RSI and MACD indicators on a four-hour timeframe. Moreover, the weekly RSI has reached levels described as “a once-per-cycle event”. These technical signals support the idea that a test of lower levels remains possible, regardless of the behavior of holders from the first half of 2024.

The market remains suspended on its key supports. If the 60,000 dollar zone were to give way, the 52,000 dollar scenario would gain credibility. Conversely, continued absorption would strengthen stabilization. In the coming days, the Bitcoin price will indicate whether this phase is just a plateau or the prelude to a new impulse.