After reaching a peak of $126,000 in May, Bitcoin has been decreasing more and more each month and has recorded five consecutive months of losses until March. Investors seem to be turning these declines into opportunities. On-chain data shows that between January 1 and now, 844,000 BTC have been purchased in the $60,000 to $70,000 price range.

Due to geopolitical tensions and macroeconomic developments, investors have made strong buy-ins at the lows of Bitcoin. According to data from the on-chain analysis and data platform Glassnode, since January 1, 844,275 BTC have been bought. The data also indicates that approximately 1.85 million BTC are held in this region.
Now a very important support level
These purchases have made levels below $70,000 a very significant support zone. Because this 1.85 million BTC represents about 9.23% of the total Bitcoin supply. According to Glassnode’s data, the $70,000 region alone is also a very important level...
Between $70,000 and $80,000, there is much less supply...
Here, only about 400,000 BTC are held. This indicates the four largest supply concentration zones. In the $70,000 to $80,000 range, there are significantly fewer Bitcoins. In this range, only about #GateSquareAprilPostingChallenge approximately ( 400,000 BTC are present. This suggests a potential for rapid price increases in this region.
Following the ceasefire agreement between the US and Iran, Bitcoin briefly surpassed $72,000 overnight.
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