PANews reported on April 9 that the price of Bitcoin has fallen below $75,000 twice recently, and has fallen significantly from the historical high of $109,000 set on January 20. Glassnode data shows that Bitcoin has now entered the "gap zone" of $70,000 to $80,000, because the price previously rose rapidly in this range without sufficient consolidation or correction.
UTXO data shows that less than 2% of Bitcoin supply is in this range, which means that there are fewer Bitcoins circulating in the market and the price may fluctuate more violently. In addition, about 25% of Bitcoin holders are currently losing money, mainly short-term investors who bought in the past five months. Analysts believe that Bitcoin needs to stabilize in this price range before it can take a clear direction for the next step.
