Bitcoin Foundation For A Mid-Term Breakout Remains Thin, Cost Basis Data Shows

Glassnode analysis reveals Bitcoin's recent consolidation in the $62k-$72k range shows weak accumulation compared to previous phases, with thin short-term holder cost basis distribution. The modest accumulation cluster provides insufficient foundation for a sustained mid-term breakout, contrasting with stronger buying activity seen during November lows.

• →Bitcoin's short-term holder cost basis distribution shows only modest accumulation in the current $62k-$72k consolidation range.
• →Previous strong accumulation at November lows provided support but was eventually broken through, leaving those buyers underwater.
• →Current accumulation intensity is weak compared to prior phases that preceded sustained price expansions.
• →The thin foundation from recent buying activity suggests limited support for a mid-term breakout.
• →Bitcoin is currently trading around $71,100, up nearly 5% over the past week despite weak accumulation metrics.