Murphy: BTC accumulates 921000 chips near $83000, at a critical point in the long short game
Analyst Murphy stated that as of October 22, BTC has accumulated approximately 921000 chips around $83000, approaching the milestone of 1 million chips. On August 3rd of this year, the number of chips in this price range reached about 1.05 million. Murphy estimates that there are only 100000 to 200000 positions left related to Coinbase's historical wallet consolidation. On October 8th, BTC entered the chip gap zone below $83000, and the price returned to this range to drive chip turnover and fill the gap. BTC encounters resistance when trying downwards, and may then search upwards for a direction with less resistance. $83000 is currently an important focus of the long short game.