Analyst: There is a large amount of chip turnover forming support at $78,000 for Bitcoin. If it stabilizes above $82,000, the real resistance is above $87,000

By: rootdata|2026/05/05 08:47:07

Crypto analyst Murphy stated that BTC is filling the gap left in its chip structure since 2024, with the recent chip concentration zone located around $78,000, where approximately 423,000 BTC have changed hands, indicating significant capital entering to form support.

He pointed out that the trading volume in the $79,000 to $80,000 range has noticeably decreased, possibly due to proximity to integer levels and resistance, with some capital choosing to wait and see. There remains an unfilled chip gap in the $81,000 to $82,000 range, and it is expected that the price will oscillate and consolidate in this range before challenging higher areas once the chips have fully changed hands.

Murphy emphasized that the chip concentration in the $83,000 to $84,000 range mainly stems from Coinbase organizing wallets and does not constitute real resistance. If BTC stabilizes above $82,000, the real pressure above will come from the chip concentration zone above $87,000.

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