On-chain data reveals that Bitcoin supply concentrated in the $60,000 to $70,000 price range has climbed to 1.85 million BTC, representing an increase of 844,275 BTC since the start of the year. This accumulation pattern is widely interpreted as a sign of strong dip-buying behaviour among investors. The figures suggest that a substantial number of market participants have been acquiring Bitcoin at these levels, viewing the range as an attractive entry point.
The $70,000 price band alone accounts for 2.2% of Bitcoin’s total circulating supply, placing it among the most heavily concentrated cost-basis zones in the market. It currently ranks as the fourth largest supply concentration area across all price levels. Such concentrations are closely watched by analysts as they can indicate where significant holder interest and potential support levels exist.
Between $70,000 and $80,000, however, the data reveals a markedly different picture. Only around 400,000 BTC are positioned within that range, creating what analysts describe as a supply gap or air gap. This relative scarcity of supply in the zone could have notable implications for future price behaviour.
When supply is thin across a particular price band, markets can move through that range more rapidly in either direction, as there are fewer coins changing hands to slow momentum. Alternatively, the gap could lead to a period of consolidation as price action navigates the low-liquidity corridor. The outcome will likely depend on broader market conditions and the direction of incoming demand.
Taken together, the data paints a picture of a market where buyers have been active below $70,000 while the path above that level remains relatively uncharted in terms of supply resistance. Analysts monitoring these metrics suggest the supply distribution could be a key factor shaping Bitcoin’s near-term price trajectory as the market digests the accumulation seen since January.
Originally reported by CoinDesk.
