Just checked the supply distribution data and wow, there's been serious accumulation happening in that $60K-$70K range. We're talking over 400K BTC added since the start of the year—nearly 43% increase in that band alone. That's now more than 8% of all non-exchange supply sitting right there, which is pretty significant when you think about the cost basis clustering.

What caught my eye is how thin the $70K-$80K zone really is. Basically an air pocket where almost nobody was holding. That's why we saw such a fast move through it—took literally five days to drop from $80K down to $70K. When you've got that kind of sparse supply, price just rips through it.

The bigger picture: BTC went from $88K back in early 2025 down to around $63K at the low, which is a substantial correction from the $126K all-time high we hit. Now we're bouncing around $71-72K range. All these accumulated positions in the $60-70K band are basically a floor—if we test it again, there's going to be real demand there since so many people are sitting on that cost basis.

Glassnode's data on this is pretty clean too. They're tracking actual on-chain movements and filtering out exchange balances, so you're seeing genuine investor positioning, not noise. Makes sense that buyers were aggressive on the dips during that downturn.