The phenomenon known as Bitcoin’s “air pocket” is once again gaining attention, as the leading cryptocurrency by market cap climbed to just under $72,000 on Wednesday.
This air pocket signifies a sparse supply zone between $72,000 and $80,000 where relatively few coins have been traded, according to insights from Glassnode.
Currently, only about 1% of the total circulating bitcoin supply resides within this price bracket. Due to the minimal number of holders who made purchases in this range, there may be limited resistance in the market if prices start moving upward through it. Essentially, if Bitcoin manages to break decisively above $72,000, it could swiftly approach the $80,000 mark.
Historically speaking, Bitcoin has not lingered long in the $72,000 to $80,000 range. One notable occasion was back in November 2024 when prices skyrocketed following Donald Trump’s victory in the U.S. presidential election; they quickly traversed this zone with little trading volume established.
A second instance occurred earlier this year when Bitcoin dropped from approximately $80,000 down to around $70,000 at January’s end before further declining to roughly $60,000 by February 6—a rapid decline that unfolded over just a few days.
The dynamics of supply can be analyzed using Glassnode’s Realized Price Distribution (URPD) metric. This tool illustrates price levels at which unspent transaction outputs were last moved and effectively maps out where current bitcoin holders acquired their assets.
According to CoinDesk Research findings during Bitcoin’s recent consolidation phase between $60K and $70K more than 400K BTC were accumulated—indicating robust support beneath current pricing levels.