ANALYSIS: BITCOIN'S CURRENT LEVERAGE CONCENTRATION IS SIMILAR TO THAT ON THE EVE OF THE FTX THUNDERSTORM, OR THE LAST FALL OF BEAR CITY

On 1 August, according to encrypted analyst Murphy, Bitcoin URPD (UTXO Realized Price Distribution, UTXO has achieved price distribution) data show that bitcoin has a high concentration of 89,000 chips at $63,000 and 710,000 at $62,000, both of which together account for about 8 per cent of the supply in circulation, far above the general level. Murphy believes that the current data is similar to the concentration that occurred on the eve of the 2022 FTX events, and that high concentration increases the sensitivity of Bitcoin prices, triggers sharp fluctuations and eventually leads to violent redistribution or important directional choices at the end of the period of Sung Bear. In response, Jiang Zhor commented that, if the CLARITY bill could not be passed before the parliamentary recess, Bitcoin or the last fall would be completed。