Bitcoin's Dual Anchor Structure Faces Challenges Amid Market Volatility

Crypto KOL Murphy posted on X that the dual anchor structure of URPD has been tested for its effectiveness during multiple market corrections across various cycles, including the previous cycle's drop to the bear market low of $15,000. However, this recent correction, which entered the $72,000-$80,000 range—the midpoint of the dual anchor structure—did not exhibit a significant support effect. The price quickly broke through, indicating a lack of expected demand intervention at this level. Murphy speculates two possible reasons for this: extreme market panic or an undisclosed sudden event. Regardless, the current chip structure suggests there is no clear support below the current price, and while there is some replenishment in the $72,000-$80,000 gap, it remains insufficient. This situation sets the stage for future developments. For instance, if BTC returns to the $87,000-$92,000 range in the future, the abundance of chips in this area could create resistance. When the price corrects, as long as confidence is restored, the dual anchor structure's support effect may still manifest in the $72,000-$80,000 range.