After Bitcoin dipped below $60,000 at the start of this month, investor demand quickly picked up. According to on-chain analytics firm Glassnode, a net total of 259,298 BTC was accumulated between June 5 and today, with purchases concentrated between $59,000 and $67,000.
Purchases spread across investor groups
Data shows that recent buying activity has not been limited to large accounts. Accumulation occurred across every major wallet category, from small holders with less than 1 BTC to those managing between 100 and 1,000 BTC. This broad-based trend signals a resurgence in demand following the recent price dip.
Glassnode’s Accumulation Trend Score, which tracks on-chain buying versus selling across various wallet cohorts, reached the maximum value of 1.0. This indicator measures not just the scale of buyers in the last 15 days but also the size of their purchases, offering a clear gauge of market sentiment.
Mini glossary: The Accumulation Trend Score leverages on-chain data to reveal whether key investor groups are collectively buying or selling. A score nearing 1.0 suggests strong accumulation across all major address tiers.
Since June 5, Glassnode data reveals a net accumulation of 259,298 BTC within the $59,000 to $67,000 range, while the Accumulation Trend Score has surged to its highest level, 1.0.
Trend reversal after March to May selling
This marks a sharp contrast to the behavior recorded between March and May. During that period, with Bitcoin trading sideways around $70,000, most wallet groups were net sellers. Glassnode’s latest data indicates that this selling trend reversed decisively during June’s market pullback.
The sustained peak in the overall Accumulation Trend Score, now lasting over two weeks, points to the most intense wave of buying seen throughout this ongoing correction. Many investors appear to be treating the price weakness as an opportunity to buy at lower valuations.
| Indicator | Prior period | Current period |
|---|---|---|
| Market behavior | Net selling (March to May) | Net buying since June 5 |
| Price range | Around $70,000 | $59,000 to $67,000 |
| Net BTC movement | Distribution dominant | 259,298 BTC accumulated |
On-chain indicators show strengthening demand
The figures underscore a surge in investor appetite over the past 10 days. The alignment of small, medium, and large investors moving in the same direction marks a shift towards a more balanced market, as every cohort increased their holdings amid the drawdown.
Glassnode is recognized for its in-depth analysis of on-chain crypto data. As such, its indicators remain a key resource for closely tracking the investor behavior behind spot market price action.
The sustained peak in the Accumulation Trend Score for over two weeks stands out as the strongest accumulation event seen during this phase of the downturn.
