Bitcoin 'air pocket' above $72,000 could mean quick run to $80,000
Data shows an extraordinarily thin supply between $72,000 and $80,000, suggesting there's little resistance in that range.
Bitcoin’s “air pocket” is once again coming into focus as the largest cryptocurrency by market capitalization rose on Wednesday to just below $72,000.
The air pocket refers to a thin area of supply between $72,000 and $80,000, where relatively few coins last changed hands, according to data from Glassnode.
Roughly just 1% of the circulating bitcoin supply sits within this range. Because so few holders established positions there, the market may encounter limited resistance if prices begin moving through the zone. In practical terms, that means if bitcoin pushes decisively above $72,000, the move toward $80,000 could occur relatively quickly.
Historically, bitcoin has spent very little time trading in $72,000 to $80,000 region. One instance came in November 2024, when prices surged rapidly after Donald Trump’s U.S. presidential election victory, quickly moving through the range without forming much trading volume.
A second example occurred earlier this year, when bitcoin fell from around $80,000 to $70,000 at the end of January, before sliding further to roughly $60,000 by Feb. 6, a decline that unfolded over just a few days.
The supply dynamics are visible through Glassnode’s Realized Price Distribution (URPD) metric. URPD shows the price levels at which the current set of unspent transaction outputs were 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 current levels.
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Crypto bulls slam Ray Dalio's 'tired narratives' in defense of bitcoin's future
Experts push back on billionaire hedge fund manager Ray Dalio's warning of bitcoin lacking gold’s qualities and risks from surveillance, quantum computing and lack of central bank buying.
- Ray Dalio, founder of Bridgewater Associates, said in a recent podcast that bitcoin lacks gold’s qualities, citing transparency, lack of central bank backing and quantum computing risks.
- Bitwise CIO Matt Hougan said those risks are exactly why bitcoin is only 4% the size of gold’s market, and long-term investors are betting that those will be solved in time.
- Galaxy’s Alex Thorn and VanEck’s Matthew Sigel countered Dalio's critique, saying that bitcoin’s adoption and utility continue to grow while quantum risks are being addressed.
