Analysis: Why Is It So Hard for Bitcoin to Break Through $82,000? The Concentrated Battle Between Long-Term and Short-Term Holders and Whale Clusters

BlockBeats news, September 12 - Analyst Murphy posted that why is it difficult for Bitcoin to break through $82,000? Some clues might be seen from the chip structure.

First, the distribution of short-term holder chips (STH) is between $59,000 and $81,000 (red in Figure 1). If it breaks through $82,000, it means all STHs are in profit. Some short-term speculative funds will choose to take profits, which is the first layer of selling pressure.

Second, although the chips of long-term holders (LTH) are distributed across the entire price axis, the most concentrated chip peak is exactly at $81,000 to $82,000 (blue in Figure 1). These LTHs are not necessarily true believers; some are just passively turned into long-term holdings after being trapped by purchases. When the price approaches break-even, they choose to exit. This is the second layer of selling pressure.

Furthermore, this is also a concentration area for super whales. The group of whales holding more than 100,000 BTC, apart from two spots near $40,000, the rest are at $78,000 to $82,000.

The analyst believes that breaking through $82,000 does indeed face resistance in the short term, and the market needs time to digest disagreements and supply. After the market regains strength and successfully breaks through, the road ahead will be smooth.