PANews reported on February 4th that, according to CoinDesk, Bitcoin prices have been consolidating in the $70,000 to $80,000 range for five consecutive days. This price range has historically had extremely short trading periods, totaling only about 35 days, lacking solid historical support or resistance levels, making it potentially a continuation of the consolidation phase or facing downward pressure. Data shows that the on-chain supply structure in this price range is weak. The largest corporate holder, Strategy, has only completed one large-scale purchase in this range, buying 27,200 Bitcoins at an average price of approximately $74,463 in November 2024. Historical price action also shows that Bitcoin often moves quickly through this area; for example, after the November 2024 election, the price surged from $68,000 to $100,000 within weeks without forming a valid consolidation zone.

Analysts point out that the longer a price stays within a certain range, the more likely accumulated positions are to translate into stronger support. The current situation suggests that Bitcoin may continue to consolidate within this range, or retest the lower end of the range before establishing a more solid foundation.