Bitcoin is sitting on a fragile support zone near $62, 600, with long-term holders selling less, exchange inflows still flashing caution, and traders staring at the $60, 000 line like it owes them money.
- BTC traded near $62, 600, up 0.31% in 24 hours but down 4.38% over seven days.
- Older holders are selling less, easing some supply pressure.
- Binance inflows have risen, which can signal added sell intent or broader exchange activity.
- $60, 587 is a key line in the sand, according to Ali Martinez.
Bitcoin’s near-term setup is a tug-of-war between easing distribution and lingering fear. On one side, older wallets appear to be moving less BTC. On the other, coins are still flowing to exchanges, which usually means some traders are preparing to de-risk rather than buy the dip with religious conviction.
At press time, Bitcoin traded near $62, 600, according to crypto.news market data. BTC was up 0.31% over the past 24 hours, down 4.38% over the past seven days, with daily trading volume near $23.99 billion and market cap close to $1.25 trillion.
That leaves Bitcoin in the thick of a zone that matters a lot more than the usual social-media noise. The real fight is around the $60, 000-$63, 000 band. Hold it, and the market can argue that the correction is still contained. Lose it, and the next stop may not be pleasant.
CryptoQuant analyst Darkfost says selling from older Bitcoin holders has cooled sharply. In his framing, these are OG investors, long-term holders who have kept BTC for more than five years. Their behavior matters because coins moving out of those wallets often represent meaningful supply entering the market, not just random churn.
Darkfost said the 90-day average of BTC spent by these OGs has fallen below 1, 000, sitting at 962, its lowest level since November 2024. That is a notable shift. The same data set showed earlier selling peaks in May 2024, February 2025, and September 2025, when much larger amounts of BTC were moving on some single days.
The point is simple: one major source of supply has eased up. That helps. It does not, by itself, launch a new bull run. Less selling is nice; actual buying is what pays the rent.
Darkfost also pointed to Binance inflows as a separate warning sign. He said average monthly BTC inflows to Binance have doubled from 3, 880 BTC to 7, 600 BTC since April 13. At a price near $62, 600, that would represent roughly $475 million in potential sell-side pressure on Binance alone.
That does not mean every coin sent to Binance is about to be dumped. Exchange inflows can reflect selling plans, but they can also come from transfers, collateral movement, or ordinary trading operations. Still, when coins head toward an exchange during weakness, it usually isn’t because everyone has suddenly become zen.
“The $60, 000 level has gradually become a genuine battleground, ” Darkfost said.
That is a fair description of the tape. Bitcoin is not in free fall, but it is not exactly looking comfortable either.
Technical analysis is backing up that caution. Analyst Ali Martinez said more than 1.3 million BTC changed hands between $60, 000 and $63, 000, creating a large volume cluster around the current price area. In plain English, that means a lot of BTC last traded around these levels, so many holders may see this zone as an important reference point for support or resistance.
“Immediate support at $60, 587 must hold to maintain the current trend, ” Martinez said.
“A break below it opens a path to $46, 702, ” he added.
That lower target is not random. Martinez’s broader read points to weaker high-volume zones below the current range, including $46, 702 and $37, 867. When price falls through a dense cost-basis area, it can create an air pocket where fewer traders have conviction to buy. That is how a chart goes from “healthy pullback” to “oops, that escalated” in a hurry.
The source also says Bitcoin had already confirmed a bearish head-and-shoulders pattern. That is a classic chart formation traders often interpret as a sign that a trend may be reversing lower. It is not a prophecy tablet handed down from the trading gods, but it does mean the current structure remains vulnerable. A break below the $60, 000 to $60, 600 area could expose a move toward $57, 500 before any larger reaction.
Spot Bitcoin ETF flows are offering a bit of relief, though not exactly a victory lap. Outflows have slowed over the past two weeks, which suggests the earlier institutional pullback is less severe than it was. That is better than a full rout, but it is not the same thing as a clean return of demand. Slower bleeding is still bleeding, just less dramatically.
Long-term valuation frameworks are telling a very different story from the short-term chart. Analyst David said Bitcoin spot price was near $62, 700, while a 4.1-year adoption spine sat near $76, 400 and a power-law trend sat near $134, 000.
“Short term: cycles dominate. Long term: adoption dominates, ” David said.
That kind of model can be useful for perspective, but it should not be treated like a law of nature. Bitcoin is not obligated to respect anyone’s spreadsheet on schedule. These frameworks are best used as context, not as a substitute for what price is actually doing right now.
The broader market backdrop is also mixed, which fits the mood. Ether traded near $1, 665, XRP near $1.10, and Solana near $69. Hyperliquid’s HYPE remained under pressure, while Tron held up better over the week. None of that screams fresh risk appetite. It looks more like a market still deciding whether it wants to buy conviction or keep hugging the exits.
For Bitcoin, the next few sessions matter. If the current range holds, the easing in OG selling and the slowdown in ETF outflows could help the market stabilize. If it cracks, traders may stop talking about support and start arguing over how much lower the next real buy zone sits.
Bitcoin is still in control of the narrative, but only barely. Hold $60, 000 and bulls can claim the correction is being digested. Lose it, and the market may remember that support is a nice word until it stops working.
Key questions and takeaways
-
Is Bitcoin holding a key support zone?
Yes. The market is centered on the $60, 000-$63, 000 area, and Ali Martinez says $60, 587 is the level that needs to hold to keep the current trend intact. -
Are long-term holders still selling heavily?
Not as much. Darkfost’s CryptoQuant data shows the 90-day average of BTC spent by older holders has dropped to 962, its lowest level since November 2024. -
Why do Binance inflows matter?
Coins moving onto exchanges can indicate potential sell pressure. Darkfost says Binance inflows have increased, which suggests some traders are still preparing to de-risk. -
What happens if BTC loses $60, 587?
Martinez says a break below that level opens the door to $46, 702, with lower support areas also seen near $41, 653 and $37, 867. -
Do slower ETF outflows mean demand is back?
Not necessarily. Slower outflows are a better backdrop than a heavy selloff, but they are not the same as strong new inflows. -
Are long-term price models useful here?
They can provide context, but they are not guarantees. David’s adoption and power-law frameworks may point higher over time, yet short-term price still depends on actual market demand and support holding.
Further reading
A couple of related market snapshots worth a look if you want more context on Bitcoin ETF flows and the latest price action.
