Glassnode Warns: Bitcoin’s $70K-$80K Supply Gap Could Trigger Sharp Decline
Data from Glassnode’s UTXO Realized Price Distribution (URPD) highlights minimal trading activity in this zone, suggesting limited support if prices decline into this range.
As of March 17, 2025, Bitcoin is trading around $81,411, reflecting a 1.76% decrease from the previous close. The intraday high reached $84,705, with a low of $81,177.
Analysts caution that a drop below the $80,000 support level could lead to further declines, potentially testing the $75,000 and $70,000 support zones. This perspective is supported by the lack of historical trading volume in the $70,000 to $80,000 range, which may result in increased volatility if Bitcoin’s price enters this area.
Investors are advised to monitor these key support levels closely, as breaching them could signal a deeper correction in Bitcoin’s price. Conversely, maintaining support above $80,000 may provide a foundation for potential recovery.
Editorial Team
Reporter at Coindoo
