Bitcoins dip below $60,000 earlier this month spurred investors to pile into the largest cryptocurrency, with nearly 260,000 BTC bought over 10 days and a measure of demand rising to the highest possible level.
Investors have bought a net 259,298 BTC since June 5, paying between $59,000 and $67,000, according to Glassnode UTXO Realized Price Distribution data. Glassnode’s Accumulation Trend Score of the Wallet Cohort, which measures the relative strength of purchasing pleasure based on both the size of buyers and the amount acquired over the previous 15 days, stands at 1.0, the highest reading.
Purchases have been broad-based across wallet cohorts, ranging from holders with less than 1 BTC, typically retail investors, to those with as much as 1,000 BTC. In particular, from March to May, most groups were net distributors or sellers as bitcoin stagnated around $70,000.
The overall Accumulation Trend Score has now held at a peak level for more than two weeks, indicating aggressive buying across cohorts and marking the strongest accumulation behavior observed during the current downturn.
