Analysis: BTC Supply Structure Tightening Rapidly, Potential for Major Volatility Imminent

According to ChainCatcher, analyst Murphy stated that the current concentration of BTC chips within a 5% range of the spot price has risen to 17.6%, marking the highest level in nearly two years. This indicates that the chip structure is tightening rapidly, and after energy accumulates, a potential large-scale fluctuation is imminent.

On September 30, the concentration of BTC chips within a 5% range of the spot price rose to 15%, and shortly after, BTC experienced a strong rebound, breaking through its previous 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%, and BTC subsequently experienced varying degrees of volatility. However, volatility measures the amplitude of price movements, not the direction, and there is no discernible pattern to whether prices rise or fall. What is more certain is that significant volatility is approaching.

This analysis is for educational and communication purposes only and does not constitute investment advice.