Analysis of Bitcoin Chip Concentration: The 104,000-105,000 Range is Key

A few days ago, some users inquired about chip concentration: On June 9, BTC chip concentration reached 12%. It was expected to rise to 13-15% in the short term, but when the price rebounded to 110,000 USD, the concentration indicator unusually rose due to a large amount of chips piling up in the 104,000-105,000 USD range (chips are sparse around 110,000).

The current price has returned to the 104,000-105,000 range, and the indicator has turned upward. The pattern shows that if the price remains at or below this range, the concentration will continue to rise and break through the "key threshold," potentially triggering a trend change; if the price rebounds, it will delay the upward pace of the indicator.

Refer to the December 2024 case (as marked by the red shadow in the figure), when the indicator showed a similar turning point during an uptrend. After that, BTC fluctuated within a consolidation range until the concentration reached a high of 16.9%, followed by severe volatility. The current trend still needs to track concentration changes, and it is temporarily impossible to predict a specific time window.