Analyst: The current concentration of BTC chips is similar to that before the FTX collapse, and there may be a final drop in the bear market

Crypto analyst Murphy stated that the Bitcoin URPD (UTXO Realized Price Distribution) data shows that there are 890,000 coins concentrated at the $63,000 level and 710,000 coins at the $62,000 level, together accounting for about 8% of the circulating supply, which is significantly higher than usual.

Murphy believes that this data is similar to the concentration seen just before the FTX incident in 2022. The high concentration increases Bitcoin's price sensitivity, making it prone to sharp fluctuations, ultimately leading to violent redistribution, which could be an important directional choice at the end of a bear market.

In response, Jiang Zhuoer commented that if the CLARITY Act cannot be passed before Congress goes into recess, Bitcoin may complete its final drop to the bear market bottom.