Bitcoin Buyers Accumulate 850K BTC Between $60K and $70K

What Happened: Bitcoin’s Growing Supply Cluster Under $70,000

According to blockchain analytics firm Glassnode, the total amount of Bitcoin last moved on-chain within the $60,000 to $70,000 price range reached 1,845,766 BTC as of early April 2026. This marks an increase of 844,275 BTC since January 1, signaling aggressive buying on dips below the $70,000 level.

This supply cluster represents about 9.23% of Bitcoin's circulating supply, anchoring a significant portion of coins at these price levels. Such concentrated supply zones often act as strong psychological support because holders are less inclined to sell below their acquisition price.

"The surge in Bitcoin supply within this price band highlights robust demand beneath $70,000, with investors anchoring their positions tightly," said James Van Straten, crypto analyst at CoinDesk.

Additionally, the $60,000-$70,000 band ranks as the fourth largest concentration zone for Bitcoin holdings based on realized price, underscoring its strategic importance in current market dynamics.

Market Structure: The Notable Air Gap Above $70,000

While supply is dense below $70,000, the $70,000 to $80,000 range shows a starkly lower accumulation, housing only about 400,000 BTC—roughly half of the amount observed below $70,000. This “supply air gap” could lead to either rapid price movement or consolidation as Bitcoin attempts to bridge this zone.

Price Range	BTC Supply (Millions)	Percentage of Total Supply
$60K–$70K	1.85	9.23%
$70K–$80K	0.40	~2%

The comparatively thin supply above $70,000 might explain recent choppy price action as bulls attempt to push through resistance while sellers remain cautious.

Geopolitical Impact: Ceasefire Fuels Bitcoin Resilience

Bitcoin’s price reaction is intricately linked to macroeconomic and geopolitical developments. Following the temporary ceasefire agreement between the U.S. and Iran, Bitcoin rose above the critical $70,000 level, demonstrating relative strength compared to traditional risk assets like equities, which softened during the same period.

Omkar Godbole, Market Strategist at CoinDesk, noted: "The ceasefire has restored a degree of market confidence, with Bitcoin clearing its 50-day moving average and approaching $76,000 amid renewed investor interest."

Meanwhile, oil prices, which had surged over $100 per barrel during geopolitical tensions, dropped 16% to $95 alongside the Strait of Hormuz reopening, reducing inflation concerns that often pressure crypto markets.

Understanding Realized Price Distribution and Its Significance

Glassnode’s Realized Price Distribution (URPD) metric tracks the average acquisition price of Bitcoin UTXOs, revealing where holders last moved their coins. It provides insights into support and resistance levels derived directly from on-chain data rather than purely speculative metrics.

By grouping coins by acquisition price, rather than current holding addresses alone, URPD accounts for large holders aggregating coins and prevents double counting, offering an "entity-adjusted" view critical for understanding market structure.

This data thus helps traders and investors identify price zones with considerable supply concentration where selling pressure could increase or buying interest might solidify.

What Analysts Are Saying

Michael van de Poppe, independent crypto analyst, commented: "Clusters at $60K-$70K have created a significant base for Bitcoin, indicating smart money is buying dips. If Bitcoin can clear $80,000 and fill the supply air gap, a surge higher is possible."

Conversely, some caution that geopolitical uncertainties and liquidity constraints could lead to volatility despite these strong support levels.

Final Takeaway

The surge in Bitcoin dip buying accumulating nearly 850,000 BTC between $60,000 and $70,000 since the start of 2026 signals a meaningful support zone that could anchor prices. With nearly 9.23% of circulating supply last moved in this range, sellers might be hesitant to push prices much lower.

However, the “air gap” above $70,000 cautions investors, as a price breakthrough could prompt rapid moves either upward or sideways. Geopolitical developments like the recent U.S.-Iran ceasefire appear to have positively influenced Bitcoin’s resilience, helping it regain and hold above key technical levels.

Investors and traders should continue monitoring on-chain data like URPD alongside macro factors to gauge Bitcoin’s next directional moves amid ongoing market uncertainty.