[Bitcoin's Historical Support Between $70,000 and $80,000 is Weak, with Only 28 Days of Activity]
Based on CME Bitcoin futures trading data from the past five years and Glassnode's UTXO Realized Price Distribution (URPD) analysis, Bitcoin's historical price support in the $70,000 to $80,000 range is weak, with only 28 trading days of activity. This makes it one of the price ranges with the least historical consolidation and support. In contrast, the $30,000 to $40,000 and $40,000 to $50,000 ranges each saw nearly 200 trading days, providing stronger support. Data shows that Bitcoin is currently trading in the $80,000 to $90,000 range, which also has weak historical support, with only 49 trading days. Additionally, Glassnode data indicates that Bitcoin supply concentration in the $70,000 to $80,000 range is low, further confirming the lack of support in this range.