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Is the range from $70,000 to $80,000 the weakest point for BTC price?
Historical data for $BTC is signaling that cryptocurrencies are moving within a fragile price range due to a lack of solid trading foundations in the past.
🔹 Statistically, BTC has experienced extremely short periods at all-time high prices:
The range from $70,000 to $79,900 lasted only 28 days.
The range from $80,000 to $89,900 lasted slightly longer at 49 days.
This is much less than nearly 200 days of accumulation at lower ranges from $30,000 to $50,000.
🔸 Actual UTXO Price Distribution
The chart also confirms a concentrated supply gap in the range from $70,000 to $80,000.
The distribution chart is giving us a real UTXO signal of a large supply gap in the range from $70,000 to $80,000.
Currently, support bars above $72,000 are significantly lower than the major support wall in the range from $60,000 to $68,000.
🔹 Due to the lack of support levels, if the market undergoes a strong correction, BTC price could fluctuate sharply and it may take a long time to move sideways to build a more solid new foundation in this area.