@whisperingvibe
A useful starting point is the UTXO Realized Price Distribution (URPD), which shows at what prices the current set of Bitcoin UTXOs were created, providing insight into where investors acquired their coins.
Comparing the snapshot from August 13th with the current structure, it is evident that investors have taken advantage of the pullback into the $108k–$116k “air gap.” Accumulation has steadily filled this range, reflecting a clear “buy-the-dip” response. This behaviour is constructive for the longer term, yet it does not eliminate the risk of further contraction in the short to mid-term.
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