Bitcoin trades near $62,900 heading into the weekend, testing the $62,500-$62,560 support zone that has maintained a five-week trading range between $62,000 and $66,000. Approximately 1.79 million BTC, representing 8.93% of circulating supply, sits concentrated in this price band at cost basis, turning the current level into a battleground for holders. US spot Bitcoin ETFs recorded $289 million in net outflows this week, leaving the market without institutional support for 48 hours. If the $62,500 support breaks on a sustained basis, the next targets stand at $60,000 and potentially $58,000 to $59,000.
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