From the overall chip distribution observation, the Bitcoin price is still operating within the key chip accumulation range of $92,000-$117,000 (Range B). The upper limit at $112,000 remains the area with the highest concentration of high-position trapped chips, which has only decreased by 11,000 Bitcoin in the past week. It has remained stable under recent downward pressure, indicating that this portion is held by long-term funds and is not sensitive to short-term fluctuations.
In contrast, the chip changes around $100,000 are more representative: a decrease of 102,000 BTC from last week, leaving approximately 363,000 currently, indicating that this is the main source of short-term selling pressure. The current price, close to $96,000, has seen an increase of 160,000 chips from last week, primarily migrating down from the $100,000 range.
As the current price approaches the bottom of Area B, the market has entered a phase that is extremely sensitive to chip loosening and steadfastness. Whether the upper trapped positions remain stable will directly affect whether BTC can find support at the lower edge of the range or further break down into a new structural area. In particular, the stability demonstrated by the high-position chips around $112,000 is of significant importance to the current market situation.
A possible path can be proposed within the Bitcoin analysis framework:
If Bitcoin breaks below $92,000, it will directly enter the 'vacuum area' between $72,000 and $90,000. The reason this gap exists is that the rapid increases in October 2024 and April 2025 did not form enough chip accumulation in this range.
According to long-term observations, when the price enters the vacuum area, it will be constrained by the 'symmetrical gravitational pull' of the two dense chip areas (Area A and Area B) above and below, significantly increasing the probability of support in the central region, forming the so-called 'double anchor structure.' The current position corresponding to this structure is around $80,000-$82,000.
