ChainThink report, November 1st, analyst Murphy posted that the concentration of chips within a 5% range of the current BTC spot price has risen to 17.6%, reaching the highest level in nearly two years, indicating that the chip structure is rapidly tightening, and after the accumulation of energy, a significant volatility is about to be triggered.

On September 30th, the concentration of chips within a 5% range of the BTC spot price rose to 15%, and shortly after, BTC experienced a strong rebound that broke through historical highs. Looking at the performance of this data over the past two years, there have been 8 instances where the concentration exceeded 13%, and in each case, BTC experienced fluctuations of varying degrees. However, volatility measures the amplitude of price movements, not the direction, and the ups and downs are unordered and lack a clear pattern. What is more certain is that a significant volatility is approaching. The analysis is for learning and communication purposes only and should not be considered as investment advice.