The relation between the spectral density of the QCD Dirac operator at nonzero baryon chemical potential and the chiral condensate is investigated. We use the analytical result for the eigenvalue density in the microscopic regime which shows oscillations with a period that scales as 1/V and an amplitude that diverges exponentially with the volume $V=L^4$. We find that the discontinuity of the chiral condensate is due to the whole oscillating region rather than to an accumulation of eigenvalues at the origin. These results also extend beyond the microscopic regime to chemical potentials $mu sim 1/L$.