Bitcoin Concentration Dips to 14.5% as Price Rises; URPD Data Shows Strong $87,000 Support

Bitcoin’s price concentration within 5% of spot fell from 14.9% to 14.5% between January 1 and 3 as prices rose, according to analyst Murphy, cited by BlockBeats. URPD data shows 822,000 BTC accumulated near $87,000, forming key support. Murphy sees a potential trading range of $92,000–$104,000, noting a daily close above the $90,588 downtrend as a rebound signal. He adds that declining concentration during rallies typically supports further upside unless $87,000 support breaks and concentration rises again.