Bitcoin Traders Accumulated Nearly 600,000 BTC Below $70,000, Glassnode Data Show

Bitcoin traders accumulated close to 600,000 BTC during the recent pullback below $70,000, valued at roughly $42.48 billion at current prices, Glassnode data cited by ChainCatcher show. About 200,000 BTC of that total were bought in the last two weeks. At the start of this year around 997,000 BTC were last moved in the $60,000–$70,000 band, and that figure climbed to approximately 1.558 million BTC after Bitcoin's latest drop under $70,000. About 8% of circulating supply changed hands in the $60,000–$70,000 range, forming a concentrated cost basis that may act as an important support zone, according to Glassnode.