Oh my goodness, I haven’t checked the order flow structure in a few days, and the data update just shocked me. On URPD, there’s a massive concentration of BTC at $63,000—already totaling 890,000 BTC as of today. I can’t recall a single price level seeing such intense bullish-bearish competition since the end of 2025. If Coinbase hadn’t locked up 550,000 BTC between $83,000 and $84,000, the $63,000 level would likely already exceed 1 million BTC. What does 1 million BTC mean? That’s 5% of the total circulating supply. Historically, when concentrations reach this scale, a major market move is almost inevitable. Because short-term positions are so concentrated, price sensitivity spikes. At the end of October 2022, just before the FTX collapse, there were 1 million BTC at $19,000 and another 870,000 at $18,000—combined, that was 9.7% of total supply. We all know what happened next: a single event triggered a massive volatility spike, amplified by the fragile structure of concentrated positions. Right now, the combined concentration at $62,000 and $63,000 has already hit 8%... (By the way, today’s overall concentration has reached 13%—entering the warning zone—just one step away from 15%.) Alright, just give it to us straight already! 🤣🤣🤣
MurphyShare


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