Glassnode: On chain data shows that BTC forms a low-density fundraising area between $110000 and $117000, or a potential bottoming area

BlockBeats news, on July 24th, Glassnode posted that "BTC's rapid rise from $110000 to $117000 has formed an 'air layer' or low-density fundraising area on the chain. Since Bitcoin rose to a historical high of $122600, the price has remained above that range. If this support is lost, history shows that such gaps may still evolve into bottom building areas