[Analysis: Bitcoin's Current Token Concentration Similar to Pre-FTX Collapse, Potentially Signaling the Final Drop of the Bear Market] BlockBeats News, August 1: According to crypto analyst Murphy, Bitcoin's URPD (UTXO Realized Price Distribution) data shows that 890,000 BTC are highly concentrated at the $63,000 level, and 710,000 BTC at the $62,000 level, together accounting for approximately 8% of the circulating supply, which is significantly higher than usual levels. Murphy believes this data is similar to the concentration observed before the 2022 FTX incident. High concentration increases Bitcoin's price sensitivity, making it prone to sharp fluctuations, ultimately leading to violent redistribution, which could mark a critical directional choice at the end of the bear market. In response, Jiang Zhuoer commented that if the CLARITY Act cannot be passed before the congressional recess, Bitcoin may complete the final drop of the bear market bottom. [Original Link]