Glassnode says thin $62k–$72k accumulation undermines Bitcoin mid-term breakout prospects

Glassnode sees only a thin STH accumulation band in the latest consolidation for Bitcoin. The $62k–$72k cluster looks modest versus prior runs according to Glassnode’s post on X.

Short-term holder (STH) Cost Basis Distribution tracks coins bought in the last 155 days per NewsBTC’s STH explainer. These clusters naturally thin out as coins move or age past 155 days.

A dense STH cluster formed at November lows. It cushioned price during consolidation, then flipped underwater as BTC fell below it Glassnode on X.

The latest sideways phase shows limited dip-buying. An STH cluster is forming at $62k–$72k, but Glassnode calls its intensity “modest” versus prior pre-expansion periods Glassnode on X.

For now, the firm says the mid-term breakout base remains thin Glassnode on X.