Investors bought nearly 260,000 BTC during the drop below $60,000: a signal for a market reversal?
The correction of Bitcoin (BTC) below the psychological level of $60,000 in early June triggered a wave of aggressive buying. Over ten days, large and retail investors collectively purchased nearly 260,000 coins, indicating a return of confident demand and likely the end of the local sell-off phase.
Since June 5, the net inflow of funds into Bitcoin has amounted to 259,298 BTC. The bulk of purchases occurred in the price range from $59,000 to $67,000. This data is clearly visible in the UTXO Realized Price Distribution (URPD) metric, which shows the prices at which coins were moved. Such a massive buyout during a decline is a classic sign that "smart money" and long-term holders perceive current levels as an attractive entry point.
Accumulation indicator at its peak: what does it mean?
The key Glassnode indicator, the Accumulation Trend Score (ATS), has surged to a maximum value of 1.0. This indicator assesses the strength of buying pressure, adjusted for wallet size and the volume of coins acquired over the last 15 days. A value of 1.0 means that accumulation is occurring synchronously and with high intensity across all holder groups—from small retail investors (wallets with less than 1 BTC) to large players (up to 1000 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. The shift in trend from distribution to accumulation is a powerful bullish signal, especially when confirmed by data across all categories of market participants.
The strongest accumulation during the entire drawdown
The cumulative accumulation trend has remained at a peak level for over two weeks. This indicates not one-off purchases by whales, but systematic and widespread demand. In my assessment, the current picture reflects the strongest accumulation during the entire ongoing correction.
The fact that buying is happening simultaneously at all market levels, not just among large participants, signals a return of broad demand. This creates a solid foundation for price recovery and reduces the likelihood of a deep repeated decline.
My view: We are witnessing a classic dip-buying pattern. The volume of 260,000 BTC absorbed in such a short period speaks to investors' high confidence in the asset's long-term potential. If this trend continues, the $60,000 zone could become a local bottom, and the market may consolidate before a new rally.