Bitcoin Price Action Focuses on $63K Support as Retail and Whale Buying Picking Up

Bitcoin's price action has centered around the $63,000 support level in recent weeks. According to Glassnode, over 3% of Bitcoin's circulating supply, approximately 515,000 BTC, is concentrated near this threshold as of August 4, 2026.

The 200-week moving average, a key technical indicator, is trading at $63,657 and closely aligns with the market price of $63,822 recorded during the session. This indicator has historically served as a support base in previous market cycles.

Glassnode's data also reveals that another block of supply, estimated at over 2% of the total (362,000 BTC), sits near $61,000. The platform's 30-day Accumulation Trend Score shows active buying across both retail investor categories and large-holder wallets.