BTC in low-volume 'void,' faces risk of decline or sideways movement

Bitcoin is lingering in a vulnerable range with historically low trading volume, heightening the risk of further price correction, Coindesk reported, citing Glassnode data. The analysis notes that BTC has spent only about 35 days at its current price level, an insufficient period to build a solid support or resistance line. Historically, the asset has passed through this range very quickly. An analysis of the on-chain URPD supply indicator reveals that the supply between $70,000 and $80,000 is structurally thin. This price level saw little accumulation from large institutions, with the notable exception of MicroStrategy's (MSTR) purchase of 27,200 BTC at an average price of $74,463 in November 2024. The report concludes that a price rebound is unlikely from the current level due to a lack of sufficient buy positions, suggesting that BTC will either move sideways to form a support base or retest lower price zones with stronger support.