Bitcoin (BTC) may have looked indecisive below $70,000 in recent weeks, but blockchain data points to strong accumulation during the pullback.

Glassnode data shows that the amount of BTC last moved between $60,000 and $70,000 has risen to 1,845,766 BTC, up from 1,001,491 BTC at the start of the year. The increase of roughly 844,000 BTC suggests buyers stepped in aggressively as prices dipped.

That cluster now accounts for about 9.23% of bitcoin’s circulating supply, reinforcing the idea that the $60,000–$70,000 range could serve as a key support zone. With a large share of coins acquired in this band, holders may be less willing to sell below their cost basis.

The figures are derived from Glassnode’s Realized Price Distribution (URPD) metric, which maps the price levels where existing bitcoin holdings—tracked via UTXOs—were last transacted. The data is entity-adjusted, grouping balances controlled by the same owner based on their average acquisition price.

Above $70,000, positioning appears comparatively thin. Only around 400,000 BTC were last moved between $70,000 and $80,000—roughly half the volume seen below $70,000—indicating lighter resistance overhead.

Bitcoin has since moved back above $70,000, supported by improved risk sentiment following a temporary ceasefire between the U.S. and Iran. For much of the past five weeks, the cryptocurrency traded below that level but remained relatively resilient.

During the same period, traditional risk assets such as equities came under pressure as geopolitical tensions drove oil prices above $100 per barrel, highlighting bitcoin’s relative strength in a volatile macro environment.