Is there buy the dip capital in Bitcoin currently? The Tied Up resistance above 116K is still strong (Mr. Begg's on-chain weekly report #41)

This week, after BTC held above STH-RP, there was a wave of increase, but after the announcement of unemployment rate and NFP data, there was a pullback. The STH-RP defense battle mentioned last week has still not determined a clear winner, and the FOMC meeting is gradually approaching, making September a turbulent month. Now let's take a look at this week's "Top Escape Weekly Report": (Background: Can Bitcoin maintain the critical 108,000 long-short lifeline? Analysis from chip distribution and holding cost (Mr. Begg's on-chain weekly report) (Supplementary background: Detailed analysis of on-chain data: Discussing Glassnode's top escape detector and obvious flaws) Original link 1) URPD As BTC's price has remained stagnant at the current level for a while, it is visually apparent that more and more chips are beginning to accumulate in the current range on the URPD chart. The chips transferred here mainly come from profit-taking chips in the 93~108K range, as well as a small portion of chips from previous high-price purchases and stop loss cut losses. The chips purchased earlier in the high range of about 116~119K, although there has been some dumping, still represent the largest loss-making area at present, with a total accumulation of about 890,000 chips. 2) STH-RP Regarding the analysis method of STH-RP (average cost of short-term holders), details can be found in this article. The current STH-RP is about 109,749, closely following the current price. When last week's Sunday report was released, BTC happened to be above STH-RP, and subsequently, there was a wave of increase this week, seeming to indicate that STH-RP provided some support; however, with this week's STH-RP moving up again, along with Friday's pullback, BTC's price is still very close to STH-RP, less than 1% away. Although bullish traders seem to have gained a first-mover advantage, the STH-RP defense battle has not yet ceased... 3) CBD Heatmap The CBD heatmap has three dimensions: time, price, and chip quantity; unlike the URPD chart, the CBD heatmap uses an "address basis" for statistical basis. Combining the above contents of URPD and STH-RP, we can draw the following two main conclusions: 1⃣ There are still loss-making positions in the 116~119K range, which corroborates with URPD. 2⃣ The chips that bought at the STH-RP area last week have neither increased their positions nor sold this week. It must be said that this week’s price being supported at STH-RP is undoubtedly attributable to the contribution of these large-scale buy-the-dip chips; therefore, whether STH-RP can continue to provide support going forward is definitely related to these large dip buyers. 4) Conclusion Key points: URPD: There are approximately 890,000 loss-making chips in the 116~119K area. STH-RP: Currently about 109.7K, closely following the current price, the game is not over. CBD Heatmap: Last week, large dip buyers did not increase their positions this week, nor did they sell. This concludes the 41st issue of the on-chain weekly report. I hope this is helpful to everyone, and I wish you a pleasant weekend! Related Reports: Interpretation of the 6 major current situations in the Web3 AI track: Compared to AI Agents, institutions pay more attention to infrastructure. AI Agents merge with Web3, will Bots help you manage your on-chain finance era? Complete introduction to Mind Network: Using FHE technology to crack the security issues of AI Agents. <Does Bitcoin currently have buy-the-dip funds? The resistance above 116K remains strong (Mr. Begg's on-chain weekly report #41)> This article was originally published in BlockTempo, the most influential blockchain news media.