Traders acquired nearly 600,000 BTC when the #Bitcoin fell below US$70,000. According to Checkonchain, 60% of the circulating supply is currently in profit, which implies that around 40% has a cost basis above US$70,000.

8% of the circulating supply is in the hands of people who bought their BTC in this indicated range, creating a dense concentration of ownership. Therefore, the range of US$60,000/US$70,000 could act as an important support level in the future.