#比特币价格走势与周期 Since the October crash, the flow of chips deserves attention. Data shows long-term holders are distributing on a massive scale, with particularly concentrated selling of chips with costs in the $60,000-$70,000 range — most of these positions were accumulated before last year's presidential election, and after the profit margins are severely compressed, they are now being rapidly cashed out.
What's even more worth noting is the inversion of the cost structure: 7.462 million BTC in underwater chips below versus 6.168 million BTC in loss-making chips above, seemingly close to balanced, but in reality, profitable positions are continuously decreasing, while the quantity of top trapped coins remains considerable. From the changes over the past two months, the $80,000-$90,000 range has accumulated 2.536 million chips, becoming the strongest support level currently.
The key observation is that the $70,000-$80,000 price range has only 190,000 BTC in chips remaining, forming a clear gap. If the price drops to this level, it may actually attract new liquidity inflows to form support — this is a typical chip redistribution process within a four-year cycle.
The current distribution is not just market sentiment fluctuation; behind it is the rational choice of long-term participants under quantum threats, macro uncertainties, and cycle awareness. It's necessary to continue tracking capital flows to see whether new buying power will truly catch this round of distribution at the bottom.
#比特币价格走势与周期 Since the October crash, the flow of chips deserves attention. Data shows long-term holders are distributing on a massive scale, with particularly concentrated selling of chips with costs in the $60,000-$70,000 range — most of these positions were accumulated before last year's presidential election, and after the profit margins are severely compressed, they are now being rapidly cashed out.
What's even more worth noting is the inversion of the cost structure: 7.462 million BTC in underwater chips below versus 6.168 million BTC in loss-making chips above, seemingly close to balanced, but in reality, profitable positions are continuously decreasing, while the quantity of top trapped coins remains considerable. From the changes over the past two months, the $80,000-$90,000 range has accumulated 2.536 million chips, becoming the strongest support level currently.
The key observation is that the $70,000-$80,000 price range has only 190,000 BTC in chips remaining, forming a clear gap. If the price drops to this level, it may actually attract new liquidity inflows to form support — this is a typical chip redistribution process within a four-year cycle.
The current distribution is not just market sentiment fluctuation; behind it is the rational choice of long-term participants under quantum threats, macro uncertainties, and cycle awareness. It's necessary to continue tracking capital flows to see whether new buying power will truly catch this round of distribution at the bottom.