Checking the last five years of Bitcoin Using CME futures trading data, it is possible to assess where this crypto has historically spent time consolidating and, by extension, where support has been more or less established.
A useful way to understand this is to look at how many trading days Bitcoin has spent in specific price ranges. The longer price has spent within a given range, the more opportunities there have been for position construction, which can then translate into stronger support.
PK Press Club data shows clear disparities between price ranges. Excluding the very brief period when Bitcoin traded at record highs above $120,000, BTC spent the least time in the $70,000 to $79,999 range, just 28 trading days. Additionally, it only spent 49 days in the $80,000 to $89,999 range. In contrast, lower price zones such as $30,000 to $39,999 or $40,000 to $49,999 have seen almost two hundred trading days, highlighting how these zones have been tested and consolidated.
For most of December, bitcoin traded in a range of $80,000 to $90,000 after its sharp decline from October’s all-time high. This correction brought prices back toward an area in which the market has historically spent relatively little time, especially compared to much of 2024, during which Bitcoin spent a significant number of days between $50,000 and $70,000. This uneven distribution suggests that support in the $80,000 bracket, and even between $70,000 and $79,999, is less developed than in the lower ranges.
This observation is reinforced by data from Glassnode. The UTXO Realized Price Distribution (URPD) shows where Bitcoin’s current supply last moved, using an entity-adjusted framework that assigns each entity’s total balance to its average acquisition price.
URPD indicates a notable lack of supply concentrated between $70,000 and $80,000, which is consistent with futures data. Both sets of data suggest that if Bitcoin were to undergo another correction phase, the $70,000-$80,000 region could represent a logical area where price may need to spend more time consolidating to establish stronger support.
Disclaimer: This analysis is based on the daily opening price of CME Bitcoin futures, excluding weekends, which means the figures reflect how often Bitcoin began a trading session in each price band rather than intraday or closing activity.
