By examining the last five years of Bitcoin CME futures trading data, it is possible to assess where that crypto has historically spent time consolidating and, by extension, where support has more or less been established.
A useful way to frame this is to examine the number of trading days Bitcoin spent within a specific price band. The more time the price has spent in a certain range, the more opportunities there are to build positions, which can later translate into strong support.
Data from Investing.com shows clear disparities across price ranges. Except for a very brief period trading at record highs above $120,000, BTC has spent the shortest time in the $70,000 to $79,999 band, just 28 trading days. Furthermore, it has spent only 49 days in the range of $80,000 to $89,999. In contrast, lower price zones like $30,000 to $39,999 or $40,000 to $49,999 saw almost two hundred trading days, which shows how extensively those zones were tested and consolidated.
Bitcoin has been trading in the $80,000-$90,000 range for most of December after a sharp decline from October’s all-time high. That correction has brought the price back into an area where the market has historically spent relatively little time, especially when compared to most of 2024, during which Bitcoin spent a significant number of days between $50,000 and $70,000. This uneven distribution shows that support at $80,000 and even between $70,000 and $79,999 is less developed than the lower ranges.
This observation is reinforced by Glassnode data. The UTXO Realized Price Distribution (URPD) shows where the current supply of Bitcoin last moved, using a unit-adjusted framework that assigns the full balance of each unit to its average acquisition price.
URPD futures, in line with data, indicate a significant supply shortage concentrated between $70,000 and $80,000. Both datasets suggest that if Bitcoin were to undergo another corrective phase, the $70,000 to $80,000 area could represent a logical area where the price may need to spend more time consolidating to establish stronger support.
Disclaimer: This analysis is based on the daily open price of Bitcoin CME futures, excluding weekends, which means the figures reflect the number of times Bitcoin started a trading session within each price band, rather than intraday or closing price activity.