Market participants picked up approximately 850,000 BTC in the $60,000–$70,000 price zone.

Bitcoin (BTC) may have spent several weeks trading below $70,000, but on-chain data suggests the pullback triggered heavy accumulation rather than sustained selling pressure.

According to Glassnode, the volume of BTC last transacted in the $60,000–$70,000 range has climbed to 1,845,766 BTC, up from 1,001,491 BTC at the beginning of the year. The roughly 844,000 BTC increase signals strong dip-buying as prices moved lower.

This concentration now represents about 9.23% of bitcoin’s circulating supply, forming a sizable cost-basis cluster. As a result, the $60,000–$70,000 range could act as a durable support zone, with holders less likely to sell below their entry levels.

The data is based on Glassnode’s Realized Price Distribution (URPD) metric, which tracks where current bitcoin holdings—represented by UTXOs—were last moved on-chain. The dataset is entity-adjusted, grouping coins held by the same owner and assigning them an average acquisition price.

In contrast, the $70,000–$80,000 range shows relatively light positioning. Only about 400,000 BTC were last moved within this band—roughly half the volume seen below $70,000—suggesting thinner resistance as prices move higher.

Bitcoin has since reclaimed the $70,000 level, aided by improving macro sentiment following a temporary ceasefire between the U.S. and Iran. Over the past five weeks, the asset largely traded below that threshold but demonstrated resilience relative to traditional markets.

Equities, in comparison, came under pressure as geopolitical tensions pushed oil prices above $100 per barrel, underscoring bitcoin’s relative strength amid broader macro uncertainty.