On March 29th, Glassnode stated that Bitcoin is currently at the lower boundary of the new buyer cost basis range ($60,000 to $70,000). Supply accumulation within this price range is noticeable, but compared to historical precedents that drove strong recoveries, the density of current coin clusters is relatively thin. Structurally, the current accumulation pattern is constructive, but its strength is still insufficient, and clear upward momentum signals have not yet formed.