Analysis: BTC struggles to break through the major accumulation zone between 93,000 and 118,000, while the lower position gap has been filled

ChainCatcher reported that on-chain data analyst Murphy released a market chip structure analysis. A month ago, due to the rapid surge of BTC, there was almost no turnover in the price range of $112,000 to $114,000, resulting in a gap in the chip structure (URPD). According to usual experience, all "gaps" on the URPD will eventually be filled.

A month later, as of August 27, the gap between $112,000 and $114,000 has been completely filled, linking the previously high and low chip accumulation zones and forming a super-large chip accumulation zone spanning from $93,000 to $118,000. A total of 5.59 million BTC have accumulated in this range, meaning that in just 9 months since November 20, 2024, more than 5 million BTC were bought within this price range, accounting for 28% of the total circulation. If long-term "locked" chips such as lost coins and Satoshi Nakamoto's holdings are excluded, this proportion would be even higher.

If there are no unexpected "black swan" events, it will be difficult for the BTC price to break through this range. For example, BTC is currently supported at the STH-RP $108,000 level, and below that, there is support at $104,000 with 42 BTC. There are currently no obvious gaps on the URPD, with only a shallow gap between $72,000 and $80,000.