Chain analyst Murphy pointed out that Bitcoin has accumulated 890000 BTC at a price of $63000. Excluding the 550000 BTC locked up by Coinbase in the $83000 to $84000 range, the accumulated amount at this price exceeds 1 million BTC, accounting for about 5% of the total circulation. The current price range of $62000 and $63000 together accounts for about 8% of the circulating volume, and the concentration of chips within the 5% range of spot prices has risen to 13%, exceeding the level in May and entering the warning zone. The high concentration of chips has led to an increase in price sensitivity, and the huge amount of short-term chips piled up around $63000 has become a potential trigger for volatility. The market is in a state where violent direction choices may occur at any time.
