TechFlow news, on January 4th, according to on-chain analyst Murphy (@Murphychen888) monitoring, two key signals have emerged in Bitcoin on-chain data: first, the concentration of chips within a 5% range of the BTC spot price has decreased from 14.9% on January 1st to the current 14.5%, while the Bitcoin price has risen slowly during the same period; second, URPD data shows that 822,000 Bitcoins have accumulated at the $87,000 price level, forming effective support. Murphy pointed out that historical data indicates that when chip concentration begins to decline, it often continues the original price trend of Bitcoin. It is expected that the subsequent reasonable fluctuation range may be between $92,000 and $104,000, unless it falls below the $87,000 support level.
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