Historical support for Bitcoin in the $70,000 to $80,000 range is weak, with only 28 days spent in this zone.

Based on CME bitcoin futures trading data from the past five years and Glassnode's UTXO Realized Price Distribution (URPD) analysis, historical price support for bitcoin in the $70,000 to $80,000 range is relatively weak, with only 28 trading days spent in this range, making it one of the price zones 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 much stronger support. Data shows that bitcoin is currently trading in the $80,000 to $90,000 range, where historical support is also weak, with only 49 trading days. Additionally, Glassnode data indicates that the concentration of bitcoin supply in the $70,000 to $80,000 range is low, further confirming the lack of support in this zone.