"The pullback triggered a wave of on-chain activity. Blockchain data from Glassnode shows nearly 600,000 BTC changed hands between $60,000 and $70,000 during the correction, equal to more than $40 billion worth of bitcoin. Over 200,000 BTC of that volume appeared in the last two weeks alone. The shift created a dense ownership cluster in that range."
"Checkonchain data also shows that about 60% of circulating bitcoin currently sits in profit, leaving around 40% of holders with an average purchase price above $70,000. The mix highlights the uneven distribution of entry points after bitcoin's rapid climb earlier in the year."
"U.S. spot bitcoin exchange-traded funds recorded roughly $568 million in net inflows last week after five weeks of outflows. The products now hold more than $55 billion in cumulative net inflows since their launch, according to data from SoSoValue."
Bitcoin experienced volatility this week following Middle East tensions that pushed crude oil above $100 per barrel, causing risk assets to sell off globally. Bitcoin initially fell to the mid-$60,000 range before finding support. During the correction, nearly 600,000 BTC traded between $60,000 and $70,000, creating a concentrated ownership cluster that analysts identify as potential support. Approximately 1.558 million BTC has moved in this range, up significantly from 997,000 BTC at year start. Currently, 60% of circulating bitcoin trades in profit while 40% of holders have average purchase prices above $70,000. U.S. spot bitcoin ETFs recorded $568 million in net inflows last week, bringing cumulative inflows to over $55 billion since launch.
Read at Bitcoin Magazine
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