$BTC Bitcoin is currently holding steady in the mid-$60k range, following its peak at $73k back in mid-March.

Let's take a closer look at how investors are navigating this period of consolidation, particularly focusing on the patterns of accumulation post-FTX crash.

In both the bull runs of 2020-21 and 2023-24, there have been noticeable distribution phases during times of price contractions.

Sell pressure tends to increase as previously dormant supply enters the market to meet demand.

The recent all-time high (ATH) was accompanied by intensified distribution, especially amidst news of conflicts in the Middle East, which contributed to a correction down to $60.3k.#BTC #BlackRock #buythedip #CryptoWatchMay2024 #eth‬ $BTC