Bitcoin Accumulation Continues Amid Price Weakness

Bitcoin finished July on a strong note but lost momentum at the start of August after two consecutive daily closes below $63,000.

The decline has raised fresh concerns even as blockchain data shows steady buying activity around current price levels.

A recent report from Bitfinex highlights that roughly 155,000 BTC moved into the $62,000 to $65,000 cost-basis range during the latest pullback. This zone now holds the largest concentration of supply across the market and represents about 0.7% of Bitcoin's circulating supply.

The data also shows that accumulation continued despite price weakness, with long-term holders absorbing selling pressure rather than existing holders leaving the market in large numbers.