Bitcoin’s brief stay in the $70k–$80k neighborhood reveals thin historical support, data show A review of the past five years of Bitcoin CME futures opening prices highlights a striking imbalance in where BTC has historically spent — and therefore where stronger support has had time to form. Using daily open prices (weekends excluded) from Investing.com, analysts mapped how many trading days Bitcoin began within specific $10,000 price bands. The result: Bitcoin has barely lingered in the $70,000–$79,999 band — just 28 trading days — and only 49 days in the $80,000–$89,999 band. By contrast, lower zones such as $30,000–$39,999 and $40,000–$49,999 saw almost 200 trading days each, underscoring how much more those ranges were tested and consolidated. That distribution matters because the more time price spends in a range, the more opportunity there is for market participants to build positions — which can later translate into deeper, more reliable support levels. After October’s all-time high, Bitcoin’s December action has largely concentrated in the $80k–$90k band following the pullback, but this area is comparatively under-tested versus many parts of 2024, when BTC spent a large chunk of time between $50,000 and $70,000. On-chain data back up the futures picture. Glassnode’s UTXO Realized Price Distribution (URPD), which assigns each entity’s balance to its average acquisition price, also shows a relative lack of supply concentrated between $70,000 and $80,000. The alignment between futures trading-days data and the URPD suggests that the $70k–$80k region is a logical place for price to “work through” if another corrective phase occurs — in other words, it may need more time to consolidate before a firm support base is established. Note: This analysis uses the daily open price of Bitcoin CME futures with weekends excluded, so figures reflect how often BTC began a trading session inside each band rather than intraday or closing price activity. Current CME futures quote referenced: BTC $87,736.43. Read more AI-generated news on: undefined/news

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