BlockBeats News, August 1st, according to crypto analyst Murphy, Bitcoin's URPD (UTXO Realized Price Distribution) data shows that at the $63,000 level, 890,000 BTC are highly concentrated, and at $62,000, 710,000 BTC, the two totaling about 8% of the circulating supply, much higher than the usual level.

Murphy believes the current data is similar to the concentration seen on the eve of the 2022 FTX event, high concentration increases Bitcoin's price sensitivity, easily triggering intense volatility, ultimately leading to violent redistribution, or becoming a key directional choice at the end of a bear market.

In response, Jiang Zhuo'er commented that if the CLARITY bill is not passed in Congress before the recess, Bitcoin may complete its final drop at the bear market bottom.