Crypto expert James Van Straten recently examined Bitcoin’s price behavior and highlighted that the $70,000 to $80,000 bracket has historically been one of the least stable zones for consolidation.
Van Straten pointed out that Bitcoin only remained within this range for 28 trading days, implying that technical support in this area might be relatively fragile.
Following its peak in October, Bitcoin pulled back and mostly traded between $80,000 and $90,000 throughout December. This correction moved the price into a territory where market activity has traditionally been limited. In contrast, Bitcoin lingered much longer within the $50,000 to $70,000 band during 2024, indicating stronger support levels at these lower prices compared to higher ranges.
By analyzing five years of CME Bitcoin futures data, Van Straten identified key price levels where consolidation was most frequent. Excluding brief periods above all-time highs, he found that Bitcoin spent minimal time—only 28 trading days—in the $70K–$79.999K zone. The next higher segment from $80K to just under $90K saw slightly more activity with 49 days. Meanwhile, lower bands such as those between $30K–$39.999K and $40K–$49.999K experienced around 200 trading days each; these areas served as strong consolidation points due to repeated testing by market participants.
This analysis aligns with on-chain insights as well. Data from Glassnode’s UTXO Realized Price Distribution (URPD) reveals a notably low concentration of Bitcoin supply changing hands within the crucial range of approximately $70k-$80k. URPD tracks recent transaction prices tied to current holders’ cost bases and highlights where coins are clustered in terms of acquisition costs.
Together with futures data and URPD findings, it suggests that if another corrective phase occurs for Bitcoin’s price action near these upper thresholds ($70k-$80k), this zone could become vital for establishing firmer support through extended consolidation periods. Van Straten emphasizes that attempting a sustained rally without adequately stabilizing here may face technical challenges.
Please note: This content does not constitute financial advice.