BlockBeats News, January 19 — On-chain data analyst Murphy posted that "BTC funding structure has undergone significant changes: compared to January 12, the Long Gamma at 88,000 has disappeared and shifted to Short Gamma; the Long Gamma at 90,000 still remains, but GEX (option Gamma risk exposure) has decreased from $1.2 billion to $590 million, almost halving.
This means that the support force generated by the funding structure in the range of 88,000 to 90,000 has been greatly weakened. Conversely, the GEX at 92,000 has reached $1.4 billion, which will amplify BTC’s volatility.
From the URPD data, the chip structure has not changed much; a large amount of chips still accumulates between 87,000 and 92,000. Therefore, this remains the strongest support zone currently and is not easily broken. However, if an extreme situation causes this zone to be breached, the probability of BTC filling the “gap” below will increase significantly. According to the “double anchor structure” principle, the middle position is around 72,000 to 74,000."
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