Glassnode: Nearly 600,000 BTC were bought during the pullback, with holdings in the $60,000 to $70,000 range accounting for 8% of the circulating supply

Gate News reports that on March 10th, according to on-chain analysis platform Glassnode data, during Bitcoin’s recent pullback below $70,000, traders bought the dip in large quantities, accumulating nearly 600,000 BTC. At current prices, this is worth approximately $42.48 billion, with about 200,000 BTC added in the past two weeks alone. Earlier this year, the last time BTC transfers occurred within the $60,000 to $70,000 range, there were about 997,000 BTC. After Bitcoin recently fell below $70,000, this number has increased to approximately 1,558,000 BTC, meaning about 8% of the circulating supply was bought within the $60,000 to $70,000 range, forming a relatively dense cost basis zone.