Analysis: Bitcoin high position chips are showing loosening, the extreme pullback range is between $98,000 and $104,000.

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On October 16, on-chain data analyst Murphy shared the market chip distribution situation by combining UTXO realized price distribution (URPD): At a high level (at 117,000 USD, the chips are loosening and cut loss), a new massive chip column was generated at 112,000 USD, indicating that a large amount of capital is buying the dip here, accumulating a total of 614,000 BTC, which is also the highest pillar in the entire chip structure so far. If BTC continues to fluctuate downward, then based on the current chip structure, Murphy judges that “the extreme pullback range will occur between 98,000 USD and 104,000 USD. Of course, the actual situation will be affected by macro policies, market sentiment, and unforeseen black swan events.”

BTC-1.2%
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