BTC chip structure analysis: 5.59 million coins accumulated in the range of 93,000-118,000 USD, forming an ultra-large support.

[Coin World] On August 28, on-chain data analysts released a market chip structure analysis. 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. A month later, as of August 27, the gap between $112,000 and $114,000 has been completely filled, connecting the original high and low chip accumulation areas and forming an ultra-large chip accumulation area spanning from $93,000 to $118,000. In this range, 5.59 million BTC have accumulated, which means that in the short span of 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 long-term "Lock-up Position" chips such as lost and 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, the current BTC is supported at the STH-RP position of $108,000, while below that there is another support at $104,000 with 42 BTC. Currently, there are no significant gaps on the URPD, only a shallow gap exists between $72,000 and $80,000. Sharing is for learning and communication purposes only and should not be considered as investment advice.