Bitcoin's $60,000–$70,000 Range Becomes Third-Longest Consolidation on Record

Bitcoin has continued to consolidate between $60,000 and $70,000. According to a July 2026 report from on-chain analytics firm Glassnode, the consolidation had lasted 307 days, making it the third-longest period in Bitcoin's history within a $10,000 trading range. About 6% of circulating supply changed hands between $58,000 and $64,000 during the period, creating the largest cost-basis support zone on record and signaling an intense equilibrium between buyers and sellers ahead of a breakout.

The digital asset market entered its third consecutive losing quarter in the second quarter of 2026 as institutional capital shifted toward AI-related stocks. U.S. spot Bitcoin ETFs suffered their largest quarterly outflows since launch, with net redemptions totaling $4 billion–$4.9 billion. June alone recorded an unprecedented $4.5 billion in outflows. The pressure contributed to Bitcoin's roughly 14% decline during the quarter, leaving it near $60,000 at the end of June.