Significant Changes in BTC Funding Structure Observed

According to BlockBeats, on January 19, on-chain data analyst Murphy reported a significant shift in the BTC funding structure. Compared to January 12, the $88,000 Long Gamma has disappeared, transitioning to Short Gamma. Meanwhile, the $90,000 level maintains Long Gamma, but the Gamma Exposure (GEX) has decreased from $1.2 billion to $590 million, nearly halving. This indicates a substantial weakening of the support force generated by the funding structure between $88,000 and $90,000. Conversely, the GEX at $92,000 has surged to $1.4 billion, suggesting increased BTC volatility. Analyzing the URPD data, the chip structure has not undergone significant changes, with a large accumulation of chips still present between $87,000 and $92,000. This range remains the strongest support zone, making it difficult to breach easily. However, if extreme conditions lead to a breakdown of this range, the probability of BTC filling the lower 'gap' increases significantly. According to the 'dual anchor structure' principle, the midpoint is approximately between $72,000 and $74,000.