Analyst: If Bitcoin enters another correction phase, it will need to consolidate for a long period within the $70,000–$80,000 range to establish support.

BlockBeats News, December 25 — CoinDesk analyst James Van Straten wrote that Bitcoin’s stay in the $70,000 to $80,000 range was relatively short, with only 28 trading days, making this price range one of the least developed in terms of historical consolidation and support. Since reaching a new all-time high in October and then pulling back, Bitcoin traded mostly between $80,000 and $90,000 throughout December. This correction pulled the price back into a range where the market historically spends less time, especially compared to most of 2024, when Bitcoin spent more days trading between $50,000 and $70,000. This uneven distribution indicates that support in the $80,000 range, and even the $70,000 to $79,999 range, is less solid compared to lower price ranges. URPD data shows a significant lack of supply in the $70,000 to $80,000 range, consistent with futures data. Both sets of data suggest that if Bitcoin enters another correction phase, the $70,000 to $80,000 range may become a zone where the price needs more time to consolidate and establish more stable support.