I noticed something interesting in the on-chain data: more than 400,000 BTC were purchased during that period when the price dropped to the $60,000 to $70,000 range. I mean, while many people were scared, someone was accumulating a lot of Bitcoin indeed.

If you think about it, 400,000 BTC within such a price range is a pretty significant volume. You can see that there are serious resources at play, taking advantage of these dips to increase their position. It's the kind of move that usually signals confidence in the asset for the long term.

This kind of massive accumulation of 400,000 Bitcoins during dips is always a sign worth watching. Not everyone can do this, so when you see this pattern, it's good to stay alert for what might come next.