Analyst: BTC supply concentration near $83K–$84K approaches warning zone
- —About 1.52 million BTC clustered in the $83K–$84K range on October 3, concentration at 12%
- —On August 1, 1.68 million BTC clustered at $62K–$63K with 12.9% concentration
- —After the August setup, BTC rallied from $60K to $80K in 17 days
- —Murphy expects volatility to rise within one to two months
Why it matters: Rising supply concentration near current levels raises the odds of a sharp price move in either direction in the coming weeks.
Source: PANews