🚀 Significant Changes in BTC Funding Structure Observed
#BTC #fundingstructure #LongGamma #ShortGamma #GammaExposure #volatility #chipstructure #supportzone #BTCsupport #cryptoanalysis #URPD #dualanchorstructure
According to BlockBeats, on January 19, on-chain data analyst Murphy reported a significant shift in the BTC funding structure. Compared to January 12, the $88,000 Long Gamma has disappeared, transitioning to Short Gamma. Meanwhile, the $90,000 level maintains Long Gamma, but the Gamma Exposure (GEX) has decreased from $1.2 billion to $590 million, nearly halving. This indicates a substantial weakening of the support force generated by the funding structure between $88,000 and $90,000. Conversely, the GEX at $92,000 has surged to $1.4 billion, suggesting increased BTC volatility.
Analyzing the URPD data, the chip structure has not undergone significant changes, with a large accumulation of chips still present between $87,000 and $92,000. This range remains the strongest support zone, making it difficult to breach easily. However, if extreme conditions lead to a breakdown of this range, the probability of BTC filling the lower 'gap' increases significantly. According to the 'dual anchor structure' principle, the midpoint is approximately between $72,000 and $74,000.#BTC #fundingstructure #LongGamma #ShortGamma #GammaExposure #volatility #chipstructure #supportzone #BTCsupport #cryptoanalysis #URPD #dualanchorstructure
🚀 Bitcoin's Dual Anchor Structure Faces Challenges Amid Market Volatility
#Bitcoin #DualAnchorStructure #MarketVolatility #URPD #CryptoKOL #MarketCorrection #BearMarket #SupportEffect #ChipStructure #BTC #Resistance #PriceCorrection #CryptoAnalysis
Crypto KOL Murphy posted on X that the dual anchor structure of URPD has been tested for its effectiveness during multiple market corrections across various cycles, including the previous cycle's drop to the bear market low of $15,000. However, this recent correction, which entered the $72,000-$80,000 range—the midpoint of the dual anchor structure—did not exhibit a significant support effect. The price quickly broke through, indicating a lack of expected demand intervention at this level.
Murphy speculates two possible reasons for this: extreme market panic or an undisclosed sudden event. Regardless, the current chip structure suggests there is no clear support below the current price, and while there is some replenishment in the $72,000-$80,000 gap, it remains insufficient. This situation sets the stage for future developments.
For instance, if BTC returns to the $87,000-$92,000 range in the future, the abundance of chips in this area could create resistance. When the price corrects, as long as confidence is restored, the dual anchor structure's support effect may still manifest in the $72,000-$80,000 range.#Bitcoin #DualAnchorStructure #MarketVolatility #URPD #CryptoKOL #MarketCorrection #BearMarket #SupportEffect #ChipStructure #BTC #Resistance #PriceCorrection #CryptoAnalysis