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BTC Bitcoin\'s US$63,000 barrier is full of resistance: On-chain data reveals key prices
Bitcoin has always struggled to break through the US$63,000 barrier. This is not simply an observation based on the integer barrier, but one of the strongest resistance areas currently supported by data on the chart. Analyst Ali Martinez (who posted analysis on Platform X under the Ali Charts account) used clear data to illustrate this view.
According to his analysis, approximately 623,000 bitcoins had previously completed transactions around US$63,000, making the region one of the largest and most significant resistance clusters in Bitcoin history.
The implications are clear: a large number of holders buying near this price are currently at break-even point, and many of them will view any opportunity to recoup costs as a time to leave. This selling pressure will continue until Bitcoin cleanly breaks through this level.
What will happen if the resistance level falls?
In his recently released analysis, the analyst portrayed the downside scenario equally accurately. If Bitcoin fails to break through $63,000 and subsequently falls below the $59,000 mark, historical transaction data will point to two specific support areas that may play a role.
The first support level is US$46,000, where 115,000 bitcoins were previously traded. The second support level is $37,870, where 206,000 bitcoins changed hands-if the situation worsens further, this will be a deeper and more important bottom area.
Both prices are far from where Bitcoin is currently trading, and this is the key. The gap between current prices and effective support levels is actually more vast than it seems.
\"If Bitcoin fails to break through US$63,000 and then loses US$59,000, historical transaction data will point to the next major support area,\" the analyst wrote in the article.
The price he really cares about
Ali Martinez\'s more specific analysis comes from the MVRV pricing range-a metric that tracks whether Bitcoin is at a premium or discount relative to its realized value.
In his latest analysis, he pointed out that Bitcoin is currently trapped between the-0.5 and-1.0 MVRV range, and there is no significant valuation advantage in either direction.
The key price he is waiting for is the-1.0 MVRV range, which is currently at $49,867. If Bitcoin hits this level, he believes it will be an important buy signal and an ideal accumulation area. This is a number worth noting.
\"If Bitcoin hits this level, I will view it as an important buying signal and an ideal accumulation area,\" he wrote in the analysis. \"According to the MVRV pricing range, Bitcoin is currently in no man\'s land. \"
