Massive Bitcoin buying spree: investors purchased 260,000 BTC during the dip below $60,000
The Bitcoin market demonstrated an impressive buying response after the price of the first cryptocurrency broke below the $60,000 level in early June. On-chain data analysis shows that over a ten-day period, investors purchased a net total of nearly 260,000 BTC. This event deserves close attention as it reflects a fundamental shift in market participant sentiment.
Since June 5, the net purchase volume has amounted to 259,298 BTC in the price range from $59,000 to $67,000. The key indicator here is the UTXO Realized Price Distribution, which records active coin accumulation at these levels. This is not just retail panic—we are witnessing a coordinated action by various holder groups.
Accumulation indicator at its peak
The Accumulation Trend Score (ATS) metric from Glassnode has reached its maximum value of 1.0. This indicator measures the strength of buying interest, adjusted for wallet size and the volume of coins acquired over the last 15 days. The current ATS value indicates that the accumulation process is occurring across all fronts: from small retail investors (wallets with less than 1 BTC) to large holders (up to 1,000 BTC).
This is a stark contrast to the period from March to May, when, with Bitcoin's price around $70,000, most groups were net sellers. Back then, the market was taking profits; now, it is aggressively buying on the dip.
Strongest accumulation of the entire correction
The cumulative accumulation trend has remained at peak levels for over two weeks. Analysts note that the current picture reflects the strongest accumulation of the entire current downturn. The key signal here is that buying is occurring at all levels of market capitalization, not just from "whales." This indicates the return of broad, healthy demand capable of forming a solid bottom.
My expert opinion: This volume of accumulation amid fear and uncertainty is a classic bullish signal. If buyers continue to hold these positions, we will likely see consolidation above $60,000, followed by a test of local highs. However, it is worth monitoring the ATS dynamics: if it starts to decline, it will indicate weakening demand and a possible retest of support.