Bitcoin dipped below $72,000 after Vice President JD Vance announced that the US failed to reach a deal with Iran during negotiations in Pakistan. The market reacted with a big sell‑off, pushing BTC to a low near $70,500.
Despite the geopolitical headline, the $70,000 level continues to act as strong support. Buyers stepped in quickly, and price has already bounced back toward $73,500 as of the latest 4‑hour candle.
850,000 BTC Accumulated in the $60K‑$70K Range – Glassnode Data Confirms
Crypto Patel shared a Glassnode Entity‑Adjusted URPD (UTXO Realized Price Distribution) chart on X. The data shows that roughly 850,000 Bitcoin (more than 9% of the total supply) was accumulated in the $60,000‑$70,000 price range this year. These coins are locked up, bought, and held.
The URPD chart highlights massive volume clusters between $60,000 and $70,000, with a noticeable peak near $67,000‑$68,000. This is conviction accumulation. Crypto Patel calls it the foundation of the next bull run being built in real time.
When a big portion of supply changes hands inside a range and does not move higher or lower, it creates a strong support zone. That range now acts as a launchpad for the next leg up.
Read also: Is Bitcoin Still a Safe Haven in 2026, or Has That Changed?
Against Wall Street: The Downtrend Is Officially Over
The analyst account “Against Wall Street” posted a bullish 4‑hour Bitcoin chart on Coinbase. The tweet reads: “Bitcoin’s new bull trend just started. The downtrend is OFFICIALLY over. For this rally to be the real, sustained one… we need to smash above $75K and hold a daily close there. Momentum has finally flipped in our favor. WAKE UP, the train is leaving the station.”
The attached 4‑hour chart shows Bitcoin breaking above a descending trendline that capped price action since the January highs. The chart also displays higher lows forming near $70,000, with resistance now being tested at $73,500‑$74,000.
The analyst marks key buy signals and a shift in market structure from lower highs to higher lows. The immediate condition for confirmation is a daily close above $75,000. Until then, the downtrend is considered broken on the 4‑hour timeframe, and momentum has flipped bullish.
Overall, the combination of massive accumulation in the $60K‑$70K range and the technical breakout above the 4‑hour downtrend suggests that Bitcoin’s bearish phase is behind us, but a confirmed daily close above $75,000 remains the final green light for a sustained rally.
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