According to BlockBeats, on November 1st, analyst Murphy stated that the current concentration of BTC spot price within 5% has risen to 17.6%, the highest value in nearly two years. This means that the chip structure is rapidly tightening, and after the energy accumulates, a potential large fluctuation is imminent.
On September 30th, the concentration of BTC holdings within 5% of the spot price rose to 15%, shortly after which BTC experienced a strong rebound, breaking through its all-time high. Looking at the performance of this data over the past two years, there have been eight instances where the concentration exceeded 13%, followed by varying degrees of BTC volatility. However, volatility measures price amplitude, not direction; price movements are unpredictable and lack any discernible pattern. What is relatively certain is that significant volatility is imminent. This analysis is for educational and discussion purposes only and should not be considered investment advice.
