According to BlockBeats, on-chain analyst Murphy says BTC chip concentration acts as an effective early warning indicator for potential volatility. When concentration within ±5% of spot price exceeds 13%, the market enters a warning zone, while above 15% signals high risk. The higher the concentration, the greater the chance and magnitude of volatility.$ZEC
Currently, $BTC chip concentration sits at 11% — elevated but still below the 13% alert threshold, suggesting a low probability of a major move from a structural standpoint, as conditions for a “chain reaction” are not met.$SOL
Markets are also watching U.S. CPI data on the 18th (21:30) and the Bank of Japan rate decision on the 19th. Murphy notes that unless these events significantly exceed expectations, their impact is likely to remain limited volatility, unlike the sharp move seen on August 5 last year, when chip concentration hit 15%.
