Bitcoin's recent price correction to $67,000 has not dampened the enthusiasm of investors. Despite the dip, optimism remains strong, and buying activity has surged. This marks the second-largest spike in investor interest in the last two months, following a similar surge in May 2024.

The recent price drop has triggered a buying frenzy among some traders who see it as a buying opportunity, expecting a quick recovery and a chance to profit from a temporary dip. This surge in buying activity is driven by the fear of missing out on potential profits. However, larger investors, known as "whales," are showing caution by reducing their long positions.

Data from Datamish reveals that Bitfinex whales reduced their long positions by about 2,000 BTC in a brief window on June 13th, and this trend has been ongoing since June 11th. This suggests that despite the surge in retail buying, larger investors are adopting a more cautious approach, possibly in anticipation of further price fluctuations or to lock in profits.

At the time of writing, Bitcoin was trading at $66,918.83, with its price declining by 0.18% in the last 24 hours. The volume of Bitcoin traded had also fallen by 24.99%. Despite this, the MVRV ratio for Bitcoin remained high, indicating that most holders were still profitable. This recent price correction may be a buying opportunity for some, but larger investors are taking a more cautious approach.