Analyst Murphy posted on the x platform, stating 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. This indicates that the chip structure is tightening rapidly, and after energy accumulation, a potential significant fluctuation is imminent. On September 30, the concentration of chips within a 5% range of the BTC spot price rose to 15%, shortly before BTC experienced a strong rebound that broke through the historical high. From the performance of this data over the past two years, there have been 8 instances where the concentration exceeded 13%, and subsequently, BTC experienced varying degrees of fluctuation. However, volatility measures the amplitude of price changes, not the direction; the rise and fall are erratic and unpredictable, but what is certain is that a significant fluctuation is approaching.