About 921,000 BTC had accumulated near $83,000 as of Oct. 22, approaching the 1 million mark, crypto analyst Murphy said in a market post relayed by BlockBeats.
Comparison with August
Murphy said a similar concentration was recorded on Aug. 3, when about 1.05 million BTC sat around that price. He described the $83,000 area as a focus of the current market contest after Bitcoin entered a low-turnover zone below it on Oct. 8.
Coinbase attribution remains uncertain
About 550,000 BTC in the historical data was associated with wallets identified through a year-old Coinbase address clustering. Murphy estimated that 100,000 to 200,000 BTC might still remain, but said the actual balance was unclear. The analysis describes a possible market structure and does not establish a support level or forecast a direction.