The truth behind BTC's sharp drop of 6.5%: the dual impact of large player shipments and chip pressure

Last night, BTC fell sharply by 6.5%, with a pullback of over 6460 points. According to the chip peak signal: BTC failed to successfully break through the chip pressure of $98580, and at the same time, Binance spot traders shipped $11.03 million at $98500, forming a meteor line pattern after a 90 minute cycle and reaching its peak. Subsequently, when the chip peak of $96010 was hit, it failed to stabilize and, with the support of the chip vacuum zone, accelerated its decline below $93000. Currently, BTC is testing chip support at $94340 and needs to be closely monitored. If it stabilizes, it may reach $96010 and support below $92000. Chip peak effect: ① Support: located below the price, the support does not break, and the price rebounds; If it falls below, the market will accelerate its decline; ② Pressure: Above the price, if the pressure does not break, the price will rebound; If there is a breakthrough, the price will accelerate its rise. The data is for reference only and does not constitute any investment advice!