Analysis: BTC Struggles to Break Through the Mega Whale Accumulation Zone of $93k to $118k, the Lower Support Gap Has Been Filled
BlockBeats News, August 28th, on-chain data analyst Murphy released a market chip structure analysis. One month ago, due to BTC's rapid surge, there was almost no turnover in the price range of $112,000 to $114,000, causing a gap in the chip structure (URPD). According to usual experience, all "gaps" on URPD will be filled.
One month later, as of August 27th, the gap between $112,000 and $114,000 has been completely filled, connecting the original high and low chip accumulation zones to form a large chip accumulation zone ranging from $93,000 to $118,000. Within this range, 5.59 million BTC are accumulated, meaning that from November 20, 2024, to the present, in a short 9-month period, over 5 million BTC have been bought in this price range, accounting for 28% of the total circulation. If we exclude chips that are lost or held in long-term "HODL" like Satoshi Nakamoto's holdings, this portion's percentage is even higher.
If there are no sudden "black swan" events, BTC's price will find it difficult to break through this range. For example, the current BTC is supported at the STH-RP $108,000 position, with 42 BTC supporting at the $104,000 position below. Currently, there are no obvious gaps on URPD, with only a shallow gap between $72,000 and $80,000. This information is for learning and communication purposes only and should not be considered as investment advice.
You may also like
Gainers
Latest Crypto News
BiyaPay Analyst: Ray Huang Criticizes Staff, NVIDIA Goes All-In on 'AIization', Wall Street Funds See AI as a Bigger Opportunity Than Crypto
24-Hour Spot Funding Inflow/Outflow Rankings: MET Net Outflow of $147 Million, ZEC Net Outflow of $40.29 Million
Mainstream Perp DEX Overview: Lighter Dominates Top Spot for 3 Consecutive Days, Hyperliquid and Aster Experience Over 30% Drop in Trading Volume
Japan Post Bank collaborates with Shinoken and DeCurret DCP to pilot tokenized deposit payment for real estate transactions
A Whale Goes Short to Long on BTC, Position Valued at $91 Million
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]