Half of Bitcoin Supply Now Held Above $59,000

New data reveals that half of all circulating Bitcoin last traded at a price higher than $59,000. This milestone shows that a large number of investors are currently holding positions with an entry point right around this mark.

For traders, this creates a clear psychological and technical line in the sand. When so many coins have a cost basis near the current price, it often influences how the market reacts. If the price drops below this level, those holders might feel pressured. If it stays above, it could signal confidence from the current buyer base.

We are keeping a close eye on this $59,000 zone. It acts as a significant reference point for market sentiment. Watch how the price behaves here, as it could determine whether buyers defend their positions or if further volatility hits the market.