BTC chip structure analysis: Accumulated 5.59 million coins in the range of $93,000 to $118,000.

On August 28, the on-chain data analyst released an analysis of the market chip structure. A month ago, due to the rapid pump 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 usual experience, all "gaps" on the URPD will be filled.

One month later, by August 27, the gap of $112,000 to $114,000 has been completely filled, creating a connection between the original high and low accumulation zones, forming an ultra-large accumulation zone that spans from $93,000 to $118,000. In this range, 5.59 million BTC have accumulated, meaning 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 we exclude lost coins and long-term "locked" holdings such as those held by Satoshi Nakamoto, the proportion of this part 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, the current BTC is supported at the STH-RP level of $108,000, and below that, there are 42 BTC at the $104,000 level providing support. There are currently 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 should not be taken as investment advice.