Analysis: Bitcoin chips are close to the "extreme pullback range," and traders are preparing to "hit the ball."

On October 17, on-chain data analyst Murphy shared the market chip distribution situation by combining UTXO realized price distribution (URPD): Compared to yesterday's data, URPD added 53,000 BTC around $104,700, approaching the “extreme pullback range of $98,000 to $104,000”, and traders waiting to buy the dip are preparing to “swing”. Yesterday's data showed that BTC chips showed signs of loosening and cutting losses at a high point ($117,000), and a new huge chip column was generated at $112,000, indicating that a large amount of capital is buying the dip here, accumulating a total of 614,000 BTC, which is currently the highest column in the entire chip structure. If BTC continues to fluctuate downward, then based on the current chip structure, Murphy judges that the “extreme pullback range will occur between $98,000 and $104,000. Of course, the actual situation will be affected by macro policies, market sentiment, and unforeseen black swan events.”