Bitcoin's holding concentration within a 5% price range around January 1, 2026, has decreased from 14.9% to 14.5%, according to on-chain data analyst Murphy. This shift suggests a potential upward trend in BTC's price, as historical data indicates that a decrease in concentration often accompanies price increases. Currently, BTC is trading between $92,000 and $104,000, with significant accumulation at the $87,000 level. The URPD data shows 822,000 BTC accumulated at this level, with market participants divided. The recent price movement above the descending trendline at $90,588 signals a possible rebound. However, if BTC falls below $87,000 and concentration increases, the market outlook may need reassessment.