Analysis: The chip structure shows that BTC is forming a bottom, with $66,000 as the genuine capital entry zone.

Mars Finance News, analyst Murphy stated that the market generally focuses on the $60k price low, but chip structure analysis reveals that the true bottom foundation of Bitcoin may be near the dense turnover zone around $66,000. Data shows that approximately 440k BTC have accumulated at that level, with 240k BTC of turnover occurring between February and April. Currently, the chip share in the $65k to $78k range has reached 13.8%. Although still below the 18.7% level before the FTX collapse in October 2022, considering that in this cycle, traditional funds such as ETFs and MicroStrategy have locked about 13% of circulating chips at relatively high levels, the current ratio already provides a basis for building a bottom structure. If the market can experience a second retest and achieve further turnover in this range, it will make the bottom foundation more solid and enhance its “resilience.” The true bottom should not be judged by the lowest price ($60k), but by the turnover zone where large funds concentrate (around $66,000). The turnover in the $78k to $82k range is still insufficient, and market divergence still needs to be digested.