Murphy
Murphy|Sep 29, 2026 04:45
Looking at the chip structure, the range with the biggest change in the past week is $83,000 - $84,000. In just 7 days from 9/22 to 9/29, nearly 400k BTC were accumulated. Such a high concentration of chip turnover in such a short time indicates that this is where the market has the most severe short-term disagreement. Interestingly, the chips accumulated at $62,000 - $63,000 previously barely participated in this tug-of-war, with only a minor reduction of 30k BTC. This shows that the major players who spent a full six months accumulating at this level are definitely not playing short-term games. In other words, of the 400k newly added at $83k-$84k, 370k came from other price ranges. This frames my two expectations for the future: 1. Stop fantasizing about the $62k-$63k range—it’s highly unlikely to return there. 2. While there’s disagreement at $83k-$84k, there’s also support. Even if it eventually breaks down, as long as it doesn’t drop significantly, the large amount of liquidity locked in here in the short term will create a strong “gravitational pull,” dragging the price back up.
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