Bitcoin UTXO Concentration at $63k Mirrors Pre-FTX Collapse Levels

890,000 BTC clustered near $63k and 710,000 near $62k, totaling 8% of supply. Analysts warn this mirrors pre-FTX volatility risks or marks the final bear market dip.

Woofun AI data shows that Bitcoin's UTXO Realized Price Distribution indicates a significant accumulation of supply at key support levels. Specifically, 890,000 BTC are concentrated around the $63,000 mark, while an additional 710,000 BTC reside near $62,000. Together, these holdings represent approximately 8% of the circulating supply, a figure notably higher than typical distribution patterns.

Analyst Murphy draws a parallel between this current concentration and the on-chain state preceding the 2022 FTX collapse. Such density is argued to heighten price sensitivity, potentially triggering severe volatility and rapid asset redistribution. Conversely, Jiang Zhuo'er suggests that if the CLARITY bill fails to pass in Congress before the recess, this period may constitute the final downward movement at the bottom of the bear market.