Analysis: Bitcoin's current chip concentration is similar to that on the eve of FTX's thunderstorm, or there was a final decline in the bear market

According to crypto analyst Murphy, Bitcoin URPD (UTXO Achieved Price Distribution) data shows that Bitcoin is highly concentrated at 890,000 chips at $63,000 and 710,000 at $62,000. Together, the two account for about 8% of the circulating supply, which is far higher than normal.

Murphy believes that the current data showed a concentration similar to the one on the eve of the FTX incident in 2022. High concentration increases the sensitivity of Bitcoin prices, which can easily cause drastic fluctuations, and eventually lead to violent redistribution, or become an important direction choice at the end of a bear market.

In response, Jiang Zhuoer commented that if the CLARITY bill cannot be passed before the National Assembly recesses, Bitcoin may complete its final decline.