Bitcoin Trading Activity Hits Record in $62K-$65K Range
Bitcoin's trading activity in the $62,000-$65,000 price range has reached an all-time high, excluding its earliest days when it traded near $0-$1,200. According to Unfolded's analysis of on-chain transaction data, this range could become one of the strongest support zones in Bitcoin's history.
The 'volume profile' metric measures the total amount of BTC that has changed hands at each price level. A high concentration of trading at a specific range often acts as a magnet for future price action, as traders remember their entry points and may react when prices return to those levels.
Historically, price levels with high trading volume tend to act as strong support or resistance zones. If Bitcoin were to revisit this range, the sheer amount of historical trading activity could provide a solid foundation for buyers, potentially preventing further downside.