Bitcoin Investors Build $60k Support with 400,000 BTC Accumulation

Edgen Crypto

·Feb 24 2026, 14:41

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Key Takeaways

On-chain analysis reveals a massive accumulation of Bitcoin, establishing a formidable price support zone above $60,000. This influx of capital indicates strong investor conviction and could significantly reduce downside volatility in the near term.

Major Accumulation: Since January 1, 2026, investors have added over 400,000 BTC to holdings within the $60,000 to $70,000 price bracket.
Formidable Support Wall: The total supply held in this range has grown to 1.43 million BTC, creating a dense cost basis that acts as a strong price floor.
High Investor Conviction: This on-chain buying pressure signals high confidence from market participants, potentially setting the stage for future price stability and upward momentum.

400,000 BTC Added to Wallets Above $60,000

On-chain data reported on February 24, 2026, reveals a significant shift in Bitcoin holder behavior as investors aggressively accumulated the asset within the $60,000 to $70,000 price corridor. According to analysis from Glassnode, the supply held in this range swelled by over 400,000 BTC since January 1, 2026. This analysis, derived from the UTXO Realized Price Distribution metric, tracks the prices at which coins were last moved on the blockchain. The heavy concentration of activity in this high price bracket points to substantial buying from market participants who view current levels as a strategic entry point.

1.43M Bitcoin Now Form Key Price Support

The recent accumulation has pushed the total Bitcoin supply within the $60k-$70k zone to approximately 1.43 million BTC, establishing one of the most significant cost basis support zones in Bitcoin's recent history. A "cost basis" represents the aggregate price at which a group of investors acquired their assets. This dense wall of ownership acts as a powerful psychological and technical floor for the market. Investors who bought in this range are less likely to sell at a loss, thereby absorbing selling pressure and reducing potential downside volatility. The formation of such a strong base signals high market conviction and provides a stable foundation for future price action.