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Bitcoin has seen a modest decrease in the price after rising above $ 94,000 earlier for the week. At the time of writing, BTC is quoted at $ 92,775, which reflects a 1.3% decrease in the last 24 hours.
The measure occurs after a several days rally that saw Bitcoin win almost 10% since the beginning of the week, asking questions about whether the recent impulse is sustainable or a temporary increase amid an uncertainty of the broader market.
Although the price action has stagnated slightly, the data in the chain and the exchange behavior are beginning to shape a clearer narrative for Bitcoin’s short -term perspective.
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Change in change Flows Signs Accumulation and reduced sales pressure
According to a new analysis of the Novaque Research cryptocant taxpayer, the behavior of Binance investors, currently one of the greatest encryption exchanges focused on retail trade, can offer a valuable vision of what comes next for BTC, particularly with respect to liquidity conditions, positioning and possible short -term prices.
Novaque Research pointed out notable changes in change flow patterns that seem to coincide with the recent behavior of Bitcoin prices. Between April 6 and April 10, Bitcoin tickets in Binance exceeded 15,000 BTC.
During this same period, the price of Bitcoin was around the range of $ 85,000 to $ 87,000. Analysts interpret this as an indicative of greater pressure on the side of the sale, probably driven by short -term merchants that liquidate positions or prepare for tax -related obligations.
In contrast, between April 19 and 23, Binance experienced more than 15,000 BTC in departures as the price moved above $ 93,000. This activity suggests a change towards accumulation, with investors moving active to AutoCustody, a trend often seen as a bullish, since it implies a short -term reduced sale risk.
Supporting this opinion, the metric of the Exchange reserve shows a decline trend since April 18, while the relationship of exchange whales fell below 0.3 on April 23, which suggests that large -volume merchants are going back, and the market is more influenced by retail behavior.
Bitcoin The short compression potential emerges as the leverage and whale activity decrease
Together with changes in change flows, Novaque Research points out that the structure of Bitcoin’s leverage positions has also evolved. According to the analysis, leverage long positions were largely eliminated in the range of $ 82,000 to $ 88,000, indicating that many short -term merchants came out during recent price swings.
At the same time, short positions remain concentrated just above the level of $ 92,000, which could make them vulnerable to a brief squeeze if the market earns a more upward boost.
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The report concludes that the market conditions are now more balanced, with fewer large players that influence the direction of the price and the thinnest liquidity areas above the current levels. The cryptocant taxpayer said:
With the structure of the clean market and thin liquidity above the current levels, any trigger (ETF flows, fed pivot, weak em) can quickly boost BTC above $ 98k- $ 100K.
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