Analyst: The current BTC concentration is 11%, and the probability of significant price fluctuations in the short term is low.

On-chain data analyst Murphy stated that "the concentration of BTC is an effective indicator to observe potential fluctuations that may occur. When the concentration exceeds 13% within a 5% range of the current spot price, it enters a warning zone, and above 15% is considered a high-risk area; the more concentrated the chips, the greater the probability and magnitude of fluctuations.

A high concentration of chips only warns of fluctuations and does not indicate direction. Currently, the BTC concentration is at 11%, which is moderately high, and has not yet entered the warning zone above 13%. Therefore, the probability of significant fluctuations occurring at this time is not large, at least from the perspective of chip structure, it does not meet the conditions for forming a "chain reaction."

Next, the market will also pay attention to the CPI data to be released on the evening of the 18th at 21:30 and the interest rate decision from the Bank of Japan on the 19th. Personally, I believe that as long as the data does not significantly exceed expectations, the impact on the market should remain within the range of "slight fluctuations," and it will not be as drastic as on August 5th last year (the concentration was 15% before August 5, 2024).