Analysis: BTC fills the gap above $72k, and market confidence is gradually recovering.

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ME News Report, April 20 (UTC+8), on-chain data analyst Murphy stated that BTC has started to fill the gap. This cycle has a "cursed" range in BTC's chip structure—$72,000 to $80,000. Whether it’s an increase in 2024 or a decline in 2026, the price quickly passes through this range, so the chip turnover has never been completed here, leading to a break in BTC's chip structure.
Along with recent price fluctuations, the BTC gap is gradually narrowing to $78,000-$80,000, with nearly 200k BTC changing hands at the $76,000-$77k level on April 17-18.
Funds being absorbed here reflect the market’s confidence gradually being restored. After full turnover, chips are evenly distributed along the price line, which is conducive to accelerating the formation of a bottom structure.
Recently, during market volatility, the chip accumulation zone between $63,000 and $68,000 was not broken through, and the upper gap was successfully filled, indirectly increasing the probability that this range will become the bottom area. (Source: ChainCatcher)
BTC1.02%
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