According to Glassnode Data, Bitcoin (BTC) Could Quickly Rise to This Level!
Bitcoin (BTC) experienced a sudden and rapid surge after a prolonged period of decline and consolidation. The price rose from around $67,000 to $73,000 in just one day.
While this rise has fueled bull trap rhetoric, some analysts predict the rally could continue.
At this point, analyst James Van Straten predicts that if Bitcoin remains above $72,000, it could quickly rise to $80,000.
Citing Glassnode data, the analyst stated that Bitcoin is in a supply shortage zone between $72,000 and $80,000.
Citing Glassnode data, the analyst noted that only about 1% of Bitcoin in circulation is in this price range, indicating that this area forms a low-resistance zone often referred to as an “air pocket.”
Since there are only a few investors taking positions in this region, Bitcoin may encounter limited resistance here.
If BTC remains consistently above $72,000, its move towards $80,000 could be relatively rapid.
Historically, Bitcoin has spent very little time between $72,000 and $80,000. The first example of this was in November 2024, after Donald Trump won the US presidential election, when the BTC price rapidly rose and quickly crossed this range without generating much trading volume.
The second example occurred in early 2026. After Bitcoin fell from approximately $80,000 to $70,000 at the end of January, it dropped further to around $60,000 within a few days.
Therefore, the analyst believes Bitcoin could easily and quickly reach $80,000.
The analyst noted that over 400,000 BTC were accumulated during BTC’s recent consolidation between $60,000 and $70,000, which could strengthen the $70,000 support level.
*This is not investment advice.
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