The Bitcoin “air pocket” is back in the spotlight as the largest cryptocurrency by market capitalization rose to just under $72,000 on Wednesday.
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 Glassnode data.
Approximately only 1% of the circulating supply of bitcoins falls within this range. Because so few holders have established positions there, the market may encounter limited resistance if prices begin to move through the zone. In practical terms, that means that if bitcoin rises decisively above $72,000, the move towards $80,000 could occur relatively quickly.
Historically, bitcoin has spent very little time trading in the $72,000 to $80,000 region. One example came in November 2024, when prices rose rapidly after Donald Trump’s victory in the US presidential election, moving quickly through the range without generating much trading volume.
A second example occurred earlier this year, when bitcoin fell from around $80,000 to $70,000 in late January, before falling further to around $60,000 on February 6, a drop 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 that the current set of unspent transaction results last moved to, effectively mapping where existing bitcoin holders acquired their coins.
CoinDesk Research notes that during bitcoin’s recent consolidation between $60,000 and $70,000, over 400,000 BTC were accumulated, showing strong support below current levels.
