Bitcoin The drop below $60,000 earlier this month prompted investors to pile into the largest cryptocurrency, with nearly 260,000 BTC purchased in 10 days and a measure of demand rising to its highest possible level.
Investors have purchased a net total of 259,298 BTC since June 5, paying between $59,000 and $67,000, according to data from Glassnode UTXO Realized Price Distribution. Glassnode’s cumulative trend score by Wallet Cohort, which measures the relative strength of buying fervor based on both the size of buyers and the amount purchased over the previous 15 days, stands at 1.0, the highest reading.
Purchases have been widespread across all portfolio groups, from holders with less than 1 BTC, typically retail investors, to those with up to 1,000 BTC. Notably, from March to May, most groups were net dealers or sellers as bitcoin stagnated around $70,000.
The aggregate accrual trend score has remained at a high level for more than two weeks, indicating aggressive buying across cohorts and marking the strongest accrual behavior seen during the current drawdown.
