Glassnode: On-chain data shows that BTC has formed a low-density buy zone in the $110,000 to $117,000 range, potentially serving as a strong support area.

BlockBeats News, July 24th, Glassnode published a post stating, "BTC's rapid rise from $110,000 to $117,000 formed an 'air pocket' or low-density accumulation zone on-chain. Since Bitcoin's surge to a historical high of $122,600, the price has remained above this range. If this support is breached, history indicates that such gaps may still evolve into a bottom-building zone."