ChainThink reports that on March 4, according to CoinDesk, the $72,000 to $80,000 range is a thin supply zone for Bitcoin, with Glassnode data showing relatively few bitcoins last traded within this range. Only about 1% of circulating Bitcoin is located in this price interval. With few holders positioned in this zone, the market may encounter limited resistance if the price begins to break through this area. In practical terms, this means that if Bitcoin successfully breaks above $72,000, the rally toward $80,000 could unfold relatively quickly.
Historically, Bitcoin spent very little time trading in the $72,000 to $80,000 range. In November 2024, following Donald Trump’s victory in the U.S. presidential election, Bitcoin’s price surged rapidly without forming significant volume in that区间. Additionally, earlier this year, Bitcoin dropped from around $80,000 to $70,000 by late January, then further declined to approximately $60,000 on February 6, completing this drop within just a few days.
Supply dynamics can be observed through Glassnode’s Unrealized Profit/Loss Distribution (URPD) metric. URPD shows the price level at which current unspent transaction outputs (UTXOs) were last moved, effectively mapping the acquisition cost of existing Bitcoin holders. CoinDesk Research notes that during Bitcoin’s recent consolidation between $60,000 and $70,000, over 400,000 BTC were absorbed, indicating strong support below current prices.