Massive Bitcoin buying spree: investors purchased 260,000 BTC amid the drop below $60,000
In early June, when the price of Bitcoin (BTC) fell below the $60,000 mark, the market witnessed a massive wave of accumulation. Over a ten-day period starting June 5, investors purchased nearly 260,000 coins on a net basis. This volume was accumulated in the price range of $59,000 to $67,000, indicating extremely high demand at current levels.
A key indicator reflecting the strength of buying interest—the Accumulation Trend Score from Glassnode—surged to its maximum value of 1.0. This metric takes into account not only the volume of coins acquired over the last 15 days but also the size of wallets involved in the process. The current value signals that the accumulation is aggressive and comprehensive in nature.
Accumulation affected all categories of holders
Notably, buying activity was recorded across all groups of market participants—from retail investors holding less than 1 BTC to large holders with balances of up to 1,000 coins. This represents a significant reversal compared to the period from March to May, when, with Bitcoin's price around $70,000, most groups acted as net sellers. Now, we are witnessing the return of broad demand, which is an extremely positive signal.
Record level of accumulation throughout the entire downturn
The cumulative accumulation trend score has remained at peak levels for more than two weeks. In my assessment, the current picture shows the strongest accumulation over the entire correction period. The fact that purchases are occurring simultaneously at all market levels, not just from whales, indicates a restoration of confidence among a wide range of investors.
Expert commentary from Cryptalist: This kind of market behavior is a classic sign that "smart money" views current prices as an attractive entry point for long-term positions. If the accumulation trend persists in the coming weeks, we could see the formation of strong support in the $60,000–$65,000 range, laying the foundation for the next upward move. However, one should not forget about potential volatility—the market can always spring surprises.