BlockBeats News, April 20th. On-chain data analyst Murphy stated that BTC has started to fill the gap. In this cycle, there is a "cursed" range in BTC's on-chain structure, which is between $72,000 and $80,000. Whether in a 24-year bull run or a 26-year bear market, this range has always been quickly passed through, with the chip turnover never completing here, causing a fracture in BTC's on-chain structure.
With the recent price fluctuations, the BTC gap has gradually narrowed to $78,000-$80,000, with nearly 200,000 BTC changing hands at around $76,000 to $77,000 on April 17th to 18th. Funds stepping in at this point indicate a gradual restoration of market confidence. After a full turnover, chips are evenly distributed along the price line, which accelerates the formation of the bottom structure. During the recent market volatility, the chip accumulation zone from $63,000 to $68,000 was not breached, and the upper gap was successfully filled, indirectly increasing the probability of this range becoming the bottom range.
