Bitcoin’s “air pocket” is coming back into focus as the largest cryptocurrency by market capitalization rose to just below $72,000 on Wednesday.
The air pocket refers to a thin supply range between $72,000 and $80,000 where relatively few coins last changed hands, according to data from Glassnode.
About only 1% of the circulating bitcoin supply is within this range. Because so few holders established positions there, the market may encounter limited resistance if prices begin to move through the zone. In practical terms, this means that if bitcoin pushes decisively above $72,000, the move towards $80,000 could happen relatively quickly.
Historically, bitcoin has spent very little time trading in the $72,000 to $80,000 region. One instance came in November 2024 when prices rose rapidly after Donald Trump’s victory in the US presidential election and quickly moved through the range without generating much trading volume.
Another example occurred earlier this year, when bitcoin fell from around $80,000 to $70,000 in late January before slipping further to around $60,000 on February 6, a decline that unfolded over just a few days.
Supply dynamics are visible through Glassnode’s Realized Price Distribution (URPD) metric. The URPD shows the price levels where the current set of unused transaction output was last moved, effectively mapping where existing bitcoin holders acquired their coins.
CoinDesk Research notes that during bitcoin’s recent consolidation between $60,000 and $70,000, more than 400,000 BTC were accumulated, showing strong support below the current level.
