1) URPD
As the BTC price has stagnated at the current price for a while, it can be seen with the naked eye that more and more chips have begun to accumulate in the current range on URPD. The chips transferred here mainly come from the profit-taking chips between 93K and 108K, as well as a small number of chips bought at previous highs and stopped losses.
The chips previously bought in the high area of about 116~119 K , although slightly sold off, are still the largest locked-in area at present , with a total of about 890,000 chips accumulated .
2) STH-RP
For details on the STH-RP (average cost of short-term holders) analysis method, please see this article .
The current STH-RP is about 109,749, which is close to the current price.
When the weekly report was released last Sunday, BTC was just above STH-RP, and then there was a wave of growth this week. It seems that STH-RP provided some support.
However, with STH-RP moving up again this week and the pullback on Friday, the current price of BTC is still very close to STH-RP, with a distance of less than 1% . Although the bulls seem to have gained a first-mover advantage, the battle to defend STH-RP has not yet ceased...
3) CBD Heatmap
The CBD heat map has three dimensions: time, price, and number of chips;
Unlike the URPD chart, the CBD Heatmap uses " address basis " as the statistical basis.
Combining the above URPD and STH-RP, we can draw the following two conclusions:
There is still a locked-in position at 116~119 K, which is consistent with the URPD.
The chips that buy the dips at the bottom of STH-RP area last week were neither increased nor sold this week.
It must be said that the price was able to be supported at STH-RP this week, which was definitely due to the contribution of these large-scale buy the dips chips;
Therefore, whether STH-RP can continue to provide support is definitely related to these large-scale buy the dips.
4) Conclusion
Key points:
- URPD: There are about 890,000 locked-in chips in the 116~119 K area
- STH-RP: Currently around 109.7 K, close to the current price, the game is not over yet
- CBD Heatmap: Last week's big buy the dips investors didn't increase their positions this week, but they also didn't sell.
The above is the 41st issue of the Chain Weekly Report. I hope it is helpful to you. I wish you all a happy weekend!
