Glassnode: Nearly 600,000 bitcoins were bought during the pullback, with the $60,000-$70,000 range becoming a dense cost zone

According to CoinDesk, data from the on-chain analysis platform Glassnode shows that during the recent pullback of btc-42">Bitcoin below $70,000, traders have been buying the dip significantly, accumulating nearly 600,000 BTC, valued at approximately $4.248 billion at current prices, with about 200,000 BTC of that amount purchased in just the past two weeks.

At the beginning of this year, the last transfer of BTC in the range of $60,000 to $70,000 was about 997,000 coins, and after Bitcoin recently fell below $70,000, that number has risen to approximately 1.558 million coins. This means that currently about 8% of the circulating supply was bought in the $60,000 to $70,000 range, forming a relatively dense cost zone for holdings, which may become an important support level in the future.