So I've been looking at the chain data and there's something interesting happening in the 60k to 70k range for Bitcoin. Apparently over 400,000 BTC have piled up in that zone during the recent dip, which is pretty significant when you think about it. The supply sitting between 60k and 70k has basically jumped from about 997,000 BTC at the start of the year to around 1.43 million now. That's roughly 8% of all non-exchange circulating supply clustered right there.

What caught my eye is how fast BTC moved through the 70k to 80k area - they're calling it an air pocket because there's barely any volume traded there historically. It dropped from 80k to 70k in just five days, which shows how thin that zone really is. Below that though, you've got this dense cluster of buyers sitting between 60 and 70k, which suggests people were aggressively accumulating on the dip.

The bigger picture is that BTC has retraced about 50% from its October peak of 126k, sitting around 72.89k now. These 400,000 BTC accumulated in the 60-70k band represent real buyers putting money in at what they probably see as attractive levels. The Glassnode data on this is pretty detailed too - they track the actual price each coin last moved, so you're not just looking at exchange flows but genuine investor cost basis. It's a useful signal for where support might actually be.