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As Bitcoin (BTC) continues to consolidate within a narrow range during the Christmas holiday period, market speculation about the direction of the breakout is intensifying. Cryptocurrency trend analyst Murphy (@Murphychen888) posted the latest on-chain data analysis on social platform X, pointing out that Bitcoin has established solid support at $87,000, and the market tilt is beginning to favor the bulls.
Murphy noted that there has been intense chip turnover between $87,000 and $84,500, with $87,000 emerging as the strongest support zone.