Bitcoin has attracted sustained institutional and retail buying pressure over the past 10 days, with investors accumulating nearly 260,000 BTC in the $59,000 to $67,000 price range. According to Glassnode data first reported by CoinDesk, the rally in demand reflects a significant shift in market sentiment following Bitcoin’s dip below $60,000 earlier this month—a level that apparently triggered substantial capital inflows across the board.

The sheer volume of accumulated Bitcoin tells the story. Investors purchased a net 259,298 BTC between June 5 and mid-June, according to Glassnode’s Unspent Transaction Output (UTXO) Realized Price Distribution metrics. What matters more than the number itself is who was buying: accumulation occurred simultaneously across every major wallet cohort, from small retail holders with less than 1 BTC to entities holding 100–1,000 BTC.

All Players Return to Buying Mode

For much of the spring, Bitcoin holders were in distribution mode. From March through May, most cohorts were net sellers as the cryptocurrency remained range-bound around $70,000. That dynamic has now reversed entirely.

Glassnode’s Accumulation Trend Score by Wallet Cohort—a measure that tracks purchasing strength relative to buyer size and volume acquired over the previous 15 days—now sits at 1.0, its maximum level. The metric has remained pinned at this peak for more than two weeks, indicating that aggressive buying has persisted across all wallet sizes.

This breadth of accumulation is significant. It means the demand for Bitcoin at current levels isn’t concentrated among one type of buyer. Retail investors snapping up fractional Bitcoin sit alongside whale operations adding substantial positions. That synchronisation often signals conviction rather than speculation.

Market Context: The Dip That Bought Conviction

The timing matters. Bitcoin’s move below $60,000 in early June appears to have acted as a magnet for capital. Rather than triggering panic selling, the decline unleashed pent-up buying interest. The fact that accumulation has sustained itself across a two-week window—encompassing the recovery back toward $66,500—suggests the demand isn’t fleeting.

The broader implication for Bitcoin is clear: after months of seller-driven stagnation, supply exhaustion may be setting in. When whales and retail players both turn net buyers simultaneously, and that behaviour persists, historical patterns suggest consolidation phases often precede directional moves.