If you want to know the direction of Bitcoin next, one data point is enough: the range of $80,000 to $90,000 has accumulated 1.874 million BTC within two months, accounting for 13% of the current circulation.
This is not retail behavior. This is a silent 'whale city-building operation'.
Meanwhile, a more covert trend is occurring simultaneously: the on-chain stablecoin balance of decentralized USD networks has reached new highs during the weeks of significant Bitcoin volatility. This indicates that top players are executing a set of 'defensive and offensive' strategies: accumulating BTC at key price levels while using stablecoins to build a 'liquidity arsenal'.
Chip map: Understand this chart, and you will understand the market.
I have created a 'battlefield map' of Bitcoin's chip distribution:
Bull's position (80,000-110,000).
First defense line (80,000-90,000): 2.536 million BTC, with an increase of 1.874 million (strongest support).
Second defense line (90,000-100,000): an increase of 324,000.
Third defense line (100,000-110,000): an increase of 87,000 (reverse increase!).
Bear's position (above 110,000).
Reduced positions by 902,000 units, panic selling has basically exhausted.
Key 'no man's land' (70,000-80,000).
Only 190,000 BTC remain, the largest 'liquidity pit' in the market.
Once the price falls into this range, it will trigger a buying frenzy.
What is the market telling us?
1. The bottom is systematically raised.
In the past, Bitcoin bear markets were often accompanied by declines of more than 50%. But this time, under the distribution of a large number of old coins, the price has formed strong resistance above 80,000. This indicates that the market's value consensus is moving up.
2. This is not a retail game.
The concentration of 1.87 million BTC requires hundreds of billions of dollars in funds. This can only be the behavior of institutions, national funds, or family offices. They are 'drawing lines' with real money: below 80,000 is the discount zone.
3. Changes in inflection point logic.
The traditional four-year cycle may be broken. If 80,000 becomes a new cornerstone, then the starting point and height of the next bull market will be rewritten.
Decentralized dollar: The 'strategic reserve' of whales.
Why are top players accumulating BTC while also increasing their holdings in decentralized stablecoins?
Three strategic objectives:
1. Build an 'all-weather' asset portfolio.
Aggressive assets: BTC, ETH.
Stable assets: Decentralized dollar.
Regardless of market fluctuations, the overall portfolio remains resilient.
2. Capturing extreme volatility opportunities.
When the market experiences extreme panic (such as a flash crash to 70,000), stablecoins can be instantly converted into buying funds.
No bank delays, no limit restrictions.
3. Avoid systemic risks.
Not relying on any single bank or exchange.
Assets are fully self-custodied, with no counterparty risk.
Transparent rules, no worry about 'platform crashes'.
This is exactly why #USDD's stable value is gaining attention at the institutional level. It provides a verifiable, non-custodial, globally circulating stable value carrier, perfectly matching the needs of large funds.
2026: May be more optimistic than you think.
Based on chip structure, my core judgment for 2026 is:
1. Bottom range.
Most likely: 70,000-80,000 ('dual anchor structure' support + liquidity pit).
Next likely: 60,000-70,000 (still 1.2 million chips remain).
2. Inflection point timing.
The market generally expects the bottom to be reached in Q4 2026.
But I believe it will happen earlier: a large amount of funds accumulating above 80,000 has shortened the bottoming time.
3. Upward space.
Once the bottom is confirmed, the clear doubling path is from 70,000 to 150,000.
This will attract trillions of traditional funds that are currently on the sidelines.
How should ordinary investors respond?
If you have funds:
Interval layout: Place orders in the range of 70,000-90,000 (such as 75,000, 80,000, 85,000).
Control position: The initial position should not exceed 30% of the planned total amount.
Keep ammunition: At least 40% of funds should remain in stablecoins, waiting for right-side opportunities.
If you already have positions:
Check costs: If the cost is above 100,000, consider moderately reducing positions when it rebounds to around 90,000.
Hedge risk: A small amount of long volatility products or options can be configured.
Patience in holding: If the cost is around 80,000, lying flat may be the optimal strategy.
Mindset management:
Don't be washed out by short-term fluctuations.
Trust the data, not emotions.
Use a long-term perspective to combat short-term noise.
The last truth.
This chip distribution chart is the most authentic vote of the market.
It tells us:
Whales believe 80,000 is worth heavily investing.
The memory of the market is being reshaped.
The foundation for the next bull market is being laid in the bear market.
But more importantly, it reminds us: in this market, you need two types of assets—one that makes you rich and one that prevents you from going bankrupt.
Bitcoin may be the former.
Decentralized stablecoins like USDD that pursue stable value are the latter.
True investment wisdom is not about how much you earn in a bull market, but how much you lose in a bear market—or more accurately, how to not only survive in a bear market but also prepare ammunition for the next bull market.
The chips do not lie.
Your asset allocation won't either.
Risk warning: The above analysis is based on publicly available on-chain data and personal reasoning and does not constitute any investment advice. Cryptocurrency is highly volatile, and any investment decision should be based on independent research and risk tolerance. Remember: in the market, the most important thing is not right or wrong, but whether you can continue playing after being wrong.
