600K BTC bought in $60K-$70K range, creating strong support

Investors have been actively buying the dip as Bitcoin fluctuates between $60,000 and $70,000, with 600,000 BTC changing hands in this range, according to an analysis by CoinDesk citing on-chain data from Glassnode. The volume, equivalent to $42.4 billion, suggests a strong accumulation phase. More than 200,000 BTC of this total were newly purchased within the last two weeks. The analysis highlights that approximately 8% of Bitcoin's current circulating supply has been acquired within this price band. This concentration of buying activity is expected to establish the $60,000 to $70,000 zone as a significant support level for the cryptocurrency's price in the future.