Analysis shows that the support for Bitcoin at $88000 to $90000 is weakening, and volatility may increase

On January 19th, on chain data analyst Murphy stated that there has been a significant change in the funding structure of Bitcoin. Compared to January 12th, the Long Gamma of $88000 has been converted to Short Gamma, while $90000 still maintains Long Gamma. However, GEX has decreased from $1.2 billion to $590 million, a decrease of nearly half. The support effect of $88000 to $90000 has significantly weakened, while the GEX of $92000 has increased to $1.4 billion, which may amplify the volatility of Bitcoin. URPD data shows that there are still a large number of chips piled up between $87000 and $92000, which is currently the strongest support band. However, if extreme circumstances lead to the breakdown of this range, Bitcoin may fill the gap below $72000 to $74000.