By examining the past five years of Bitcoin With CME futures trading data, it is possible to gauge where cryptos have historically spent time consolidating and, by extension, where support is more or less established.
A useful way to frame this is to examine the number of trading days that Bitcoin has spent in specific price bands. The more time a price has spent in a certain range, the more opportunity there is for positions, which can later translate into strong support.
Data from Investments.com Shows clear disparity in price ranges. , 000 Excluding Bitcoin’s very brief time at record highs above 120,000, BTC has spent the least amount of time in the $70,000, 79,999 band in just 28 trading days. Moreover, it has spent only 49 days in the range of 80,000 to 89,999. In contrast, lower price zones such as 000 30,000 to 39,999 or 000 40,000 to 49,999 saw almost two hundred trading days, highlighting how extensively these areas were tested and consolidated.
For most of December, Bitcoin has been trading in the $80,000-$90,000 range, following its sharp pullback from October’s all-time high. This correction has pushed the price to an area where the market has historically spent relatively little time, especially when compared to most of 2024, during which Bitcoin spent many days between the 0,000,000 to ,000,000,000 range. This uneven distribution shows that 000 is less developed than 80,000, and even between 000 70,000 and 79,999, compared to the lower bounds with support.
This observation is reinforced Glasnode The data UTXO Realized Value Distribution (URPD) shows where the current supply of Bitcoin last moved, using an entity-adjusted framework that assigns the full balance of each entity to its average acquisition price.
Aligning with URPD futures data, 000 indicates a significant supply shortfall between 70,000 and ,000 80,000. Both datasets suggest that if Bitcoin is to go through another corrective phase, the ,000 70,000 to ,000 80,000 area could represent a logical area where the price may need to stabilize longer to establish strong support.
Disclaimer: This analysis is based on the daily open price of Bitcoin CME futures, which excludes the weekend, which means the data reflects how many times Bitcoin has started a trading session in each price band, rather than intraday or closing price activity.