[Analysis: BTC Concentration Declines, Support from Chip Structure Effective, Higher Probability of Rebound than Continued Downtrend After False Breakout] BlockBeats news, January 4, on-chain data analyst Murphy published an article stating, 'As of January 1, 2026, the concentration of BTC chips within a 5% range of the spot price reached 14.9%, just one step away from the high-risk volatility zone. However, on January 2 and January 3, this concentration did not increase but instead decreased, currently down to 14.5%. Meanwhile, BTC's price is slowly rising. Historical data shows that if the concentration declines due to BTC price increases, BTC tends to continue its upward price trend during the decline, and vice versa. Currently, URPD data indicates that 822,000 BTC have accumulated at the $87,000 level; there is significant divergence between bulls and bears at this point, and after intense competition, a direction is gradually emerging. When the turnover level starts to shift to the right, it proves that the support effect of the largest volume bar on the current URPD chart is effective. Therefore, my personal judgment at the moment is that the reasonable range for movement is between $92,000 and $104,000. From a technical indicator perspective, the signal for the anticipated rebound begins when the daily K-line closes above the descending trendline ($90,588), which has already been fulfilled. While the risk of a false breakout cannot be ruled out, based on the current data and indicators, I personally believe the probability of a genuine rebound is higher than the probability of continued downtrend after a false breakout. Unless during this process BTC breaks below the effective support point at $87,000, falls back below the descending trendline, and chip concentration continues to rise, then the situation would need to be reassessed.'