2025-12-22 07:52:09

On December 22, on-chain analyst Murphy released a viewpoint, using a significant pullback of 10.11 as the starting point for this round of fall, outlining the drastic changes in Bitcoin's chip cost over the past two months.

From the specific data, the price range of $80,000 to $90,000 has become the strongest support zone, currently accumulating 2.536 million $BTC, an increase of 1.874 million coins compared to October 11. Following closely is the $90,000 to $100,000 range (an increase of 324,000 coins) and the $100,000 to $110,000 range (an increase of 87,000 coins).

Using the current price as a dividing line, the floating loss chips above are approximately 6.168 million coins, while the floating profit chips below are about 7.462 million coins. After deducting the amount of coins lost by Satoshi Nakamoto, the market chip structure has almost reached a subtle balance between the upper and lower levels.

From October 11 to December 20, during this period, the profit positions below disappeared by 1.33 million coins, while the trapped positions above the cost of 110,000 USD decreased by 902,000 coins. Interestingly, the $BTC in the range of 100,000 to 110,000 USD not only did not flow out but instead increased by 87,000 coins—indicating that the top holders were cutting losses the hardest, while holders in other price ranges have started to take it easy.

Profitable investors are selling off on a large scale. The rhetoric of the four-year cycle, macroeconomic uncertainty, and market concerns such as quantum threats have all driven long-term holders to conduct a massive distribution. Among them, the $BTC sell-off in the $60,000 to $70,000 range has been the most fierce, primarily involving chips purchased before the 2024 U.S. election, and now many are eager to cash out as profits have significantly shrunk.

There is a detail worth noting: there are currently only 190,000 $BTC in the $70,000-$80,000 range, which has become a relative "gap zone." Once the price falls into this area, it is likely to attract new buying pressure, thereby forming significant support.

BTC2.47%

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bridgeOops

· 6h ago

The support at 80-90 thousand has piled up to 2.536 million. Is this really preparing for the upcoming rebound? It feels a bit too neat. --- The gap at 70-80 thousand only has 190 thousand. It wouldn't be surprising if it gets smashed through directly. --- It's the long-term holders distributing again, along with quantum threats. To put it bluntly, it's just panic selling. --- Profitable positions have disappeared by 1.33 million... This data looks like someone is buying the dip. --- Are the chips at 100-110 thousand still increasing? The top cutting losses is ruthless. --- Looking at it this way, below 80 thousand is really a buying point, just depends on whether the market acknowledges it. --- The four-year cycle theory is out again, and it's been slapped in the face every time. Will it be different this time? --- The selling of options at 60-70 thousand is the most fierce, they deserve to lose money. --- The balance of chips is so delicate, a big bearish belt hold would reshuffle everything.

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GateUser-9ad11037

· 6h ago

The 80,000-90,000 hurdle really held firm, with 2.536 million coins stacked there. --- The top holders really cut losses the hardest, while those below have mostly laid flat. --- The 70,000-80,000 gap is an interesting detail; waiting for a rebound. --- Profitable positions are fleeing on a large scale; no wonder it hurts so much. --- Quantum threat reasoning has even come up; long-term holders are truly panicking. --- The balance feels a bit precarious. --- The 60,000-70,000 wave of selling was the fiercest, all pre-election chips, pulling out if they lost. --- 746,200 unrealized gains really can hold the scene a bit. --- It will be interesting when it drops to 70,000-80,000; there will definitely be someone looking to buy the dip. --- From October 11 to now, the distribution of chips has changed so much; the market is fully negotiating.

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NotFinancialAdvice

· 6h ago

Ah, this data is overwhelming, having 2.536 million coins stacked at 80-90k is really a bit scary. --- The gap between 70-80k is quite interesting; should I bet on a rebound? --- Is everyone dumping? Then I have to wait; it feels like the bottom hasn't been reached yet. --- Long-term holders have also started to distribute; this signal is a bit concerning. --- The chips are almost equalized; is this a sign of stability or will it continue to fall? --- The cut loss at the top is the harshest, haha, these people who chased the price deserve it. --- The selling pressure at 60-70k was really intense, everyone who caught a falling knife before the U.S. election is in a bloodbath. --- Quantum threats, four-year cycles, macro uncertainty... with so many reasons for dumping, should I still hold? --- 6.168 million coins in unrealized losses hanging over my head, this pressure is immense.

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MEVHunterLucky

· 6h ago

The support at 80-90k is indeed a bit strong, with 1.87 million coins built up. --- Are the top holders cutting losses the most ruthless? It shows that retail investors are still too inexperienced. --- The gap of 190k at 70-80k, this is the window for institutions to buy the dip, right? --- Quantum threat has been brought out to scare people, how many chips can be smashed out? --- The unrealized gains of 7.46 million below against the unrealized losses of 6.17 million above, the balance is a bit weird. --- The selling at 60-70k is the fiercest... all dumb buyers who bought before the election, this wave of losses is a bit tragic. --- Those who lie flat are all smart people, I also lie flat.

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StakeHouseDirector

· 6h ago

The support at 80-90k really can't hold anymore, the profitable positions are fleeing too fiercely. --- The cut loss at the top is so ruthless, indicating that the mentality has already scattered. --- Is the gap at 70-80k only 190k coins? This is getting interesting. --- With both macro and quantum threats, long-term holders are truly scared. --- The sell-off at 60-70k shows that those who caught the knife before the election are getting anxious. --- A balanced upper and lower limit sounds nice, but who believes it? --- 1.33 million profitable positions have disappeared... that's where the real storyline lies.

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