Analysis: BTC is struggling to break through the large accumulation zone of 93,000 to 118,000, and the lower holdings gap has been filled.

BlockBeats news, on August 28, on-chain data analyst Murphy released a market chip structure analysis. A month ago, due to the rapid pump of BTC, there was almost no trading in the price range of $112,000 to $114,000, resulting in a gap in the chip structure (URPD). According to common experience, all "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, creating a link between the original high and low chip accumulation areas, forming a super-large chip accumulation zone spanning from $93,000 to $118,000. In this range, 5.59 million BTC have been accumulated, which means that in just 9 months from November 20, 2024, more than 5 million BTC were purchased within this price range, accounting for 28% of the total circulation. If we exclude lost coins and long-term "Lock-up Position" chips such as Satoshi's holdings, this proportion would be even higher. If there are no sudden "black swan" events, it will be difficult for BTC prices to break through this range. For example, BTC is currently supported at the STH-RP level of $108,000, and below it, there is another support level at $104,000 with 42 BTC. Currently, there is no obvious gap on the URPD, only a shallow gap exists between $72,000 and $80,000. This sharing is for learning and communication purposes only and does not constitute investment advice.