Bitcoin's trading range is compressing between key on-chain levels, with active supply support at approximately $71,300 and capital breakeven resistance near $79,800, according to CryptoQuant analyst Darkfost. This narrowing volatility suggests the market is consolidating within a defined band as traders await a decisive breakout. The current setup mirrors late-stage 2023 bear market conditions, when Bitcoin tested the $71,300 support level twice before initiating the current cycle. Similarly, BTC encountered resistance at the realized capital cost basis range on two occasions in 2023 before launching its upward trend, indicating comparable structural dynamics are playing out in the present market environment.