Large Bitcoin holders were active when prices crashed to a 15 month low near $60,000.

Instead of selling, these big investors stepped in and bought the dip. This buying helped Bitcoin recover fast. In just a few days, the price jumped by around 17%. At the time of writing, Bitcoin was trading close to $69,165.

Data shows that coins were moving from short term sellers into the hands of long term holders. This shift helped calm the market after panic spread across crypto.

Blockchain data firm Glassnode showed clear signs of accumulation. Wallets holding between 1,000 and 100,000 Bitcoin bought nearly 40,000 BTC during the drop.

Mid sized holders with 1,000 to 10,000 BTC added about 22,000 coins. Even larger wallets holding 10,000 to 100,000 BTC picked up around 18,000 Bitcoin in the same period.

All of this buying happened as Bitcoin rebounded from below $60,000 to nearly $70,000.

Another boost came from Binance. Its Secure Asset Fund for Users moved $300 million into Bitcoin. That conversion added 4,225 BTC to the fund. SAFU now holds about 10,455 BTC, worth roughly $731 million, with more reserves still available.

Institutional interest also stayed strong. US spot Bitcoin ETFs saw $331 million in inflows on Friday. This showed that professional investors were still buying despite recent price swings.

The scale of these purchases suggests that big players were positioning carefully. Many saw lower prices as a chance to increase their exposure.

Even with the rebound, Bitcoin faced trouble moving higher. The price struggled to break above $72,000. Charts show strong resistance around that level.

Analysts say if Bitcoin fails to push past this zone, another pullback is possible. The next key support sits between $66,000 and $68,000. This is where an important long term average lies.

Christopher Inks from TexasWest Capital said Bitcoin is more likely to move sideways or up rather than fall to new lows. He noted that the market still needs to hold current levels for the next few weeks with lighter selling pressure.

Some analysts remain cautious. They believe Bitcoin could still test lower levels before a strong rally begins. In a worst case scenario, some estimates place a deeper bottom near $50,000, similar to what happened in 2022.

Earlier heavy selling pushed retail interest to yearly lows. Smaller traders exited the market. At the same time, large investors quietly accumulated Bitcoin. This reduced supply and helped stabilize prices.

A similar pattern earlier this year led to a rally toward $96,000 before prices fell again.

For now, Bitcoin appears to be settling near $70,000. The next move depends on whether buyers can break resistance or if the market dips back toward support zones.