Bitcoin’s (BTC) ongoing price pullback could accelerate below $80K, as on-chain analysis by Glassnode indicates that the $10K price range beneath this level was marked by weak economic activity late last year.
BTC prices quickly rose from $70K to above $80K in early November after pro crypto Donald Trump won the U.S. Presidential election. As a result, very little BTC changed hands between those levels, leaving a so-called „supply gap,” as evident from Glassnode’s UTXO Realized Price Distribution (URPD) chart.
This metric tracks the price points at which existing bitcoin UTXOs were last moved. Each bar represents the volume of bitcoin that last changed hands within a specific price range. The data is entity-adjusted, meaning it assigns an average purchase price for each entity, categorizing its full balance accordingly.
Bitcoin’s rapid surge from the mid-$60K to over $100K following Donald Trump’s U.S. election victory left little supply accumulation in the $70K to $80K range, as it t
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