Bitcoin stays between 70,000 and 80,000 dollars for a long time.

Bitcoin Price is Trading in a Tight Range

Bitcoin has been trading in a narrow range between $70,000 and $79,999 for the past five days. This situation is unusual as historically it has spent less time in this price range.

Historical data indicates that this area does not form a strong support or resistance level. Therefore, it is anticipated that the price may consolidate in this area or experience a move towards the lower end.

Trading data reveals a significant supply shortage in this region. This situation is primarily evidenced by a large purchase made by Strategy, reminiscent of previous instances where the price quickly moved past this level.