Bitcoin’s “air pockets” are once again in the spotlight as the largest cryptocurrency by market capitalization rose to just under $72,000 on Wednesday.
According to data from Glassnode, an air pocket refers to a thin area of supply between $72,000 and $80,000, where relatively few tokens end up changing hands.
Only about 1% of the circulating Bitcoin supply falls within this range. Since few holders have established positions there, the market may encounter limited resistance if price begins to move through this area. In practical terms, this means that if Bitcoin breaks decisively above $72,000, a move towards $80,000 could happen relatively quickly.
Historically, Bitcoin has rarely traded in the $72,000 to $80,000 area. An example was seen in November 2024, when the price quickly surged after Donald Trump won the US presidential election, quickly breaking out of the range without generating much trading volume.
The second example occurred earlier this year, when Bitcoin fell from around $80,000 to $70,000 in late January, and then further fell to around $60,000 by February 6, a decline that occurred in just a few days.
Supply dynamics can be seen through Glassnode’s Realized Price Distribution (URPD) indicator. URPD shows the price level at which the current set of unspent transaction outputs last moved, effectively mapping where existing Bitcoin holders will acquire their coins.
CoinDesk Research noted that during Bitcoin’s recent consolidation between $60,000 and $70,000, more than 400,000 BTC accumulated, showing strong support below current levels.
