I'm monitoring Glassnode data and found it interesting: over 400,000 BTC have accumulated between $60,000 and $70,000. Since the beginning of the year, the supply in this range has increased by 43%, rising from about 997,000 to 1.43 million BTC. This accounts for more than 8% of the total outside exchanges, creating a very dense cost basis there.

What catches the eye is the difference with the $70,000 to $80,000 range—there was practically an empty zone, very low volume indeed. The rapid drop from $80,000 to $70,000 in five days clearly showed this: the price moved straight through an area with very little liquidity until it reached these denser zones.

It's clear that $60,000 to $70,000 is now a well-structured support. Many people have positions there, so it makes sense for the market to react when it approaches this level. Curious to see how distribution changes so quickly depending on the cycle.