Analyst: Bitcoin Chip Concentration Approaches Pre-FTX Collapse Levels, May See Final Bear Market Drop
According to TechFlow news, on August 1st, crypto analyst Murphy stated that Bitcoin URPD (UTXO Realized Price Distribution) data shows that currently about 890,000 BTC are concentrated at the $63,000 price level, with another about 710,000 BTC concentrated at the $62,000 price level, together accounting for about 8% of Bitcoin's circulating supply, significantly higher than the average level.
Murphy believes that the current chip concentration is quite similar to the eve of the 2022 FTX incident. Highly concentrated chip distribution may increase Bitcoin price sensitivity, amplify market volatility, and ultimately drive chip redistribution, becoming an important directional signal in the late stage of a bear market.
In this regard, Jiang Zhuoer stated that if the US "CLARITY Act" fails to pass before Congress recesses, Bitcoin may experience the final drop of the bear market.
