BlockBeats news, on August 28, on-chain data analyst Murphy released a market chip structure analysis. A month ago, due to the rapid rise of BTC, there was almost no turnover in the price range of $112,000 to $114,000, resulting in a gap phenomenon in the chip structure (URPD). According to general experience, all the 'gaps' on the URPD will be filled.
One month later, as of August 27, the gap of $112,000 to $114,000 has been completely filled, linking the original high and low chip accumulation areas, forming an oversized chip accumulation area spanning from $93,000 to $118,000. In this range, 5.59 million BTC have accumulated, indicating that in just 9 months from November 20, 2024, over 5 million BTC were bought within this price range, accounting for 28% of the total circulation. If long-term 'locked' chips such as lost and Satoshi's holdings are excluded, this proportion will be even higher.
If there are no sudden 'black swan' events, the BTC price will find it difficult to break through this range. For example, BTC is currently supported at the STH-RP level of $108,000, and below that, there is support at $104,000 with 42 BTC. Currently, there are no obvious gaps on the URPD, with only a shallow gap existing between $72,000 and $80,000. This sharing is for learning and communication purposes only and is not investment advice.
