Recent blockchain data indicates that Bitcoin buyers have accumulated nearly 850,000 BTC in the $60,000 to $70,000 price range, signaling strong demand during recent dips below $70,000.
Supply Concentration Signals Market Floor
According to the Realized Price Distribution (URPD) metric, the total amount of BTC last moved in this range now stands at 1,845,766 BTC, up from 1,001,491 BTC on January 1, representing a gain of 844,275 BTC. This accounts for roughly 9.23% of Bitcoin’s circulating supply, suggesting that valuations below $70,000 may act as a strong support level, as sellers are likely reluctant to sell below their acquisition price.
Potential Price Movement Above $70K
The supply above $70,000 is comparatively thin, with only 400,000 BTC held between $70,000 and $80,000. This “air gap” may allow for rapid price movements or consolidation in that range. Following the temporary U.S.-Iran ceasefire, Bitcoin rebounded above $70,000, reflecting resilience relative to traditional risk assets, including oil and stocks. Analysts note that this dip buying activity demonstrates continued confidence among investors, anchoring a significant portion of supply and providing a potential floor for future price action.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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