[Analyst: Current BTC Chip Concentration at 11%, Low Probability of Significant Short-Term Price Fluctuations] BlockBeats News, December 17 – On-chain data analyst Murphy stated, 'BTC's chip concentration is an effective leading indicator to observe potential volatility. When the chip concentration within a 5% range of the spot price rises above 13%, it enters the warning zone, and above 15% is considered a high-risk zone. The more concentrated the chips, the higher the probability and magnitude of the resulting volatility. High chip concentration only signals volatility but does not indicate direction. Currently, BTC's chip concentration is at 11%, which is moderately high but has not entered the warning zone above 13%. Therefore, the probability of significant fluctuations at this time is not high, at least from the perspective of chip structure, as it does not meet the conditions for triggering a 'chain reaction.' The market will next focus on the CPI data to be released at 9:30 PM on the 18th and the Bank of Japan's interest rate decision on the 19th. Personally, I believe that as long as the results are not significantly beyond expectations, the impact on the market should remain within the range of 'minor fluctuations' and will not be as dramatic as August 5 last year (when chip concentration was at 15% before August 5, 2024).'