According to an article published on the X platform by analyst Murphy, Odaily Planet Daily, 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 tightening rapidly, 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%, and shortly after, 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 volatility for BTC each time. 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.