Analysis

During the recent price decline from the all-time high (ATH) to a low of $61.2k, approximately 2.0M BTC transitioned from 'in-profit' to 'in-loss' status, indicating a significant volume of coins transacted at a higher cost basis. As the market rebounded to $66.5k, about 1.0M coins returned to 'in-profit' status. Consequently:

- Approximately 1.0M BTC have a cost basis between $61.2K and $66.5K.

- Approximately 1.0M BTC have a cost basis between $66.5K and the ATH at $73.2K.

This represents one of the larger 'supply clusters' seen during pullbacks since the 2022 lows, suggesting increased on-chain coin volumes in recent months.