Analysis: Bitcoin high position chips are showing loosening, the extreme pullback range is between $98,000 and $104,000.

BlockBeats News, on October 16, on-chain data analyst Murphy shared the market chip distribution situation based on the UTXO realized price distribution (URPD): at high positions (chip loosening cut loss at $117,000), a new massive chip pillar was created 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 pillar 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 sentiments, and unforeseeable black swan events.”