Bitcoin buyers scooped up nearly 850,000 BTC in the $60,000–$70,000 band, a sign that dip demand under $70K has been intense, on-chain data shows.
Glassnode’s Realized Price Distribution (URPD) indicates the amount of bitcoin that was last moved in that price range now totals 1,845,766 BTC — up from 1,001,491 BTC on Jan. 1. That increase of 844,275 BTC means roughly 9.23% of circulating bitcoin is effectively “anchored” to the $60K–$70K zone. In other words, a large chunk of supply carries cost-basis in that band and could make sub‑$70K valuations act like a support level, since holders may be reluctant to sell below where they last transacted.
URPD tracks the prices at which current UTXOs were last moved; the version Glassnode used is entity‑adjusted, grouping coins by owner based on average acquisition price. Each price bar in the distribution represents how much bitcoin is held at that price level, so these clusters reveal where holders are most likely to defend or capitulate.
Meanwhile, the $70K–$80K range is comparatively thin — only around 400,000 BTC sit there, roughly half the volume anchored below $70K. That contrast suggests heavier buyer conviction in the lower band and potentially less resistance if price pushes above $70K.
Price context: bitcoin has recently bounced back above $70,000 after a temporary U.S.–Iran ceasefire. It spent much of the past five weeks oscillating below $70K but held up better than many traditional risk assets, which softened as oil topped $100 per barrel amid geopolitical tensions.
Bottom line: the realized price distribution shows substantial buying interest and cost-basis accumulation between $60K and $70K. Traders and investors should watch how these anchored positions influence selling pressure and support levels if price retests that zone.
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