Analyst: If Bitcoin enters another correction phase, it will need to consolidate for a long period within the $70,000–$80,000 range to establish support.

On December 25, CoinDesk analyst James Van Straten wrote that Bitcoin’s stay in the $70,000 to $80,000 range was relatively short, with only 28 trading days, making this price range one of the least developed in terms of historical consolidation and support. Since the all-time high in October, Bitcoin has traded mostly in the $80,000 to $90,000 range throughout December. This pullback has brought the price back to a range that has historically seen less market activity, especially compared to most of 2024, when Bitcoin spent more days trading between $50,000 and $70,000. This uneven distribution indicates that support in the $80,000 range, and even the $70,000 to $79,999 range, is not as solid compared to lower price ranges. URPD data shows a clear shortage of supply in the $70,000 to $80,000 range, consistent with futures data. Both sets of data suggest that if Bitcoin enters another correction phase, the $70,000 to $80,000 range may become a zone where the price needs more time to consolidate and establish more stable support.