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."
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
$78,000 BTC Price Support Level Reclaimed, Bitcoin Could Be Entering Bullish Reversal Stage
Bitcoin reclaiming $78k fuels a bullish reversal narrative and potential altseason, with bulls eyeing new ATHs up to $126k–$140k while bears warn of a fake pump before a cycle bottom.
Abstract: The article discusses Bitcoin reclaiming the $78,000 level as a potential bullish reversal that could spur altcoin rallies, outlining bullish and bearish forecasts, possible new ATHs, and rising market optimism.
CryptoNewsLand2h ago
Abraxas Capital Adds 54 BTC, Expanding Long Position to $5M on Hyperliquid
Abraxas Capital boosted its BTC long by 54 BTC (~$4.2M) in two hours, taking longs to $5M at $77,450 avg. After closing shorts on April 12, it began a rolling long build-up.
Abraxas Capital increased BTC exposure on Hyperliquid by 54 BTC in two hours, signaling a rolling long build-up after closing shorts.
GateNews3h ago
Bitcoin Breaks Through $78,000, Ethereum Hits $2,390: Market Panic Eases
Bitcoin breaks through $78,000, while Ethereum climbs above $2,390. This article reviews the V-shaped reversal trend from April 13 to 22, analyzing the evolution of liquidation data and the Fear and Greed Index.
GateInstantTrends3h ago
Arthur Hayes Sets $500K Bitcoin Target for End of 2026
Bitcoin hits $78k as institutions accumulate; Hayes bets $500k BTC and $200 HYPE, centering Bitcoin as his top conviction amid macro uncertainty and potential policy shifts.
Abstract: This article reports Bitcoin’s rise to about $78,000 amid rising institutional accumulation, with roughly 45,000 BTC bought in the past week and more than 1 million BTC added by long-term holders over three months. It notes BitMEX co-founder Arthur Hayes’ end-of-2026 targets—$500,000 for Bitcoin and $200 for HYPE—reflecting Bitcoin as his top conviction and the influence of macro uncertainty and potential liquidity shifts on crypto demand. It also highlights the wildcard of monetary policy moves that could accelerate or derail these targets.
CryptoFrontier3h ago
ZachXBT Warns Against Bitcoin Depot ATM Over 44% Bitcoin Markup
ZachXBT warns Bitcoin Depot ATMs impose steep premiums—$25k fiat at $108k/BTC vs ~$75k market (about 44%), leading to ~ $7.5k loss on 0.232 BTC; also notes a $3.26M security breach.
This article summarizes ZachXBT's warnings about Bitcoin Depot's pricing practices and a recent security breach, highlighting risks from inflated rates and security lapses for users.
GateNews4h ago
Bitcoin Hits 10-Week High After Iran Reopens Strait of Hormuz
Bitcoin surged above $78K after Iran reopened the Strait of Hormuz.
ETF inflows and institutional buying strongly supported the Bitcoin rally.
The market remains cautious despite bullish momentum and ongoing geopolitical uncertainty.
Bitcoin — BTC, recently surged sharply on Friday after
CryptoNewsLand4h ago
