Analyst Murphy: Super Whales have high cost concentration and are in a loss making state overall
Analyst Murphy (@ Murphychen888) stated in an article that URPD data divided by wallet size shows a significant differentiation in cost distribution between whales and retail investors. The cost of holding over 100000 bitcoins for Super Whales is concentrated in the range of $80000 to $85000, with a small amount distributed around $70000 and $40000, and overall they are in a loss making state. The range of 65000 to 120000 US dollars mainly consists of holdings of 1 to 10000 wallets, with a relatively low proportion of retail investors; The range of 20000 to 60000 US dollars is mainly composed of 0.1 to 10 individual investors; For amounts below $20000, the majority are large wallet whales. Analysis indicates that large investors in this cycle have been trapped at high levels, and their subsequent decisions may affect the depth of the bear market, while most retail chips in the $20000 to $60000 range have entered a long-term holding state.