Analyst: The current BTC supply concentration is 11%, so the probability of significant price fluctuations in the short term is low

BlockBeats News, December 17, On-chain data analyst Murphy stated that "BTC's concentration of chips is an effective observation pre-warning indicator for the 'potential volatility' about to occur. When the concentration of chips within a 5% range of the current spot price rises to above 13%, it enters a caution zone, and above 15% is considered a high-risk zone; the more concentrated the chips are, the greater the probability and magnitude of the resulting volatility."

High chip concentration only warns of volatility, not direction. The current BTC chip concentration is at 11%, which is in a moderately high position but has not yet entered the caution zone above 13%. Therefore, at this point, the probability of causing a large fluctuation is not significant. At least from the perspective of chip structure, it does not currently have the conditions to form a 'chain reaction.'
Next, the market will also focus on the CPI data to be released at 21:30 on the 18th and the interest rate decision to be announced by the Bank of Japan on the 19th. In my personal opinion, as long as it is not significantly above expectations, the impact on the market should remain within the range of 'slight fluctuations' and will not be as intense as on August 5 last year (before August 5, 2024, the chip concentration was at 15%)."