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Bitcoin builds 1.3 million BTC support, weakening resistance as it eyes year high

Bitcoin has entered a zone for another attempt at its year high, with analysis pointing to a large accumulation area near $62,000 that has significantly weakened overhead resistance. On-chain URPD data showed supply was widely absorbed between $61,840 and $63,111, creating a support band where more than 1.3 million BTC changed hands. Analysts see little technical resistance above $65,500 until a potential supply wall near $84,569.