On-Chain Data Pinpoints Heavy Bitcoin Accumulation in the $62,000 to $65,000 Zone
UTXO distribution figures show that the largest cluster of circulating Bitcoin changed hands within a narrow band well below recent market prices.
An analysis of the UTXO Realized Price Distribution (URPD) compiled by Galaxy Research reveals that the price range between $62,000 and $65,000 contains the densest concentration of Bitcoin purchase prices across the entire circulating supply. The dataset examined more than 16.3 million BTC distributed across 99 price brackets, measuring an all-time peak at $124,824.
The findings show two consecutive pricing buckets within that $62,000 to $65,000 band, each holding more than 900,000 BTC. By comparison, the notable $85,000 cluster accounts for approximately 730,000 BTC. The report notes that hundreds of thousands of coins changed hands in this territory during the rebound that followed Bitcoin's drop below $58,560 in late June, after the asset had lost roughly a third of its value over six months.
This cluster forms a significant reference level for the market, as investors who purchased at these levels may either look to exit at breakeven during corrections or maintain their holdings. Meanwhile, the report notes that the estimated average production cost of a bitcoin sat around $78,000, aligning closely with trading levels observed in early September.
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