Bitcoin Trades in Narrow Range Amid Low Onchain Supply

Bitcoin is currently trading within a narrow price range between $70,000 and $80,000. According to NS3.AI, there has been limited historical trading activity in this corridor, and the onchain supply remains low. This indicates a lack of significant selling or buying pressure, suggesting that Bitcoin may continue to consolidate within this range or potentially retest the lower boundary near $70,000 before making a decisive move.