Analyst: BTC chip concentration approaching warning zone, market may see a major trend shift

PANews reported on October 4 that analyst Murphy pointed out in a tweet that BTC's daily chart has closed with consecutive doji candles, with unusually rare upper and lower wicks. Data shows that on August 1, two chip columns appeared in the $62,000–$63,000 range, totaling about 1.68 million BTC, with chip concentration at 12.9% at the time; on October 3, two prominent chip columns also appeared in the $83,000–$84,000 range, totaling about 1.52 million BTC, with chip concentration rising to 12%, and the warning zone above is now within reach. After this data combination appeared on August 1, BTC surged from $60,000 to $80,000 in just 17 days. Murphy believes that chip accumulation and rising concentration do not indicate a definite direction, but the probability of "amplified volatility" is rising. It is expected that within as little as one month or as long as two months, something significant may happen in the market.