ChainCatcher reports that on-chain data analyst Murphy stated, "The BTC funding structure has undergone a significant change: compared to January 12th, the Long Gamma at $88,000 has disappeared, replaced by Short Gamma; while $90,000 still maintains Long Gamma, GEX (Options Gamma Exposure) has decreased from $1.2 billion to $590 million, almost halved. This means that the support level between $88,000 and $90,000 generated by the funding structure has weakened considerably. Conversely, GEX at $92,000 has reached a staggering $1.4 billion, which will amplify BTC volatility."
Looking at URPD data, the chip distribution structure hasn't changed much; a large amount of chips are still accumulated between $87,000 and $92,000. Therefore, this area remains the strongest support zone and is not easily broken. However, if an extreme situation occurs that causes this range to be breached, the probability of BTC filling the "gap" below will increase significantly. According to the pattern of the "double anchor structure," the middle position is around $72,000 to $74,000.
