TREE NEWS reports: Bitcoin has fallen into the top of its “pain zone,” briefly touching the largest cost-basis cluster on its on-chain chart at $60,000 to $63,000, Glassnode said on X. The analytics firm said its weekly on-chain report had flagged warning signs for weeks, including low-volume rebounds, demand outflows, and the presence of the dense cluster below.
Bitcoin Enters ‘Pain Zone’ at Largest On-Chain Cost Basis Cluster of $60K-$63K, Glassnode Says
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AI take
Glassnode's framing matters because the $60K–$63K band is where the largest concentration of holders' cost basis sits, so price interacting with it tests whether that cohort defends or capitulates — a behavioral signal rather than a technical one. The firm's own caveats (low-volume rebounds, demand outflows) suggest the move lacked conviction, which makes the cluster's role as support an open question rather than a given. What's worth watching is whether trading around this band produces absorption or accelerates the outflow trend Glassnode already flagged.
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