Bitcoin Price Declines to $92,775 After Recent Rally

Bitcoin's price has decreased by 1.3% to $92,775 after reaching over $94,000 earlier in the week. This follows a nearly 10% increase since the week's start, leading to speculation about the sustainability of this momentum amid market uncertainty.

Shift in Exchange Flows Signals Accumulation and Reduced Selling Pressure

Analysis from Novaque Research indicates significant changes in exchange flows on Binance.
Between April 6 and April 10, inflows exceeded 15,000 BTC while prices remained around $85,000-$87,000.
This suggests increased sell-side pressure from short-term traders.
From April 19 to April 23, outflows also surpassed 15,000 BTC as prices rose above $93,000, indicating accumulation.
Exchange Reserve metrics show a decline since April 18, with the Exchange Whale Ratio falling below 0.3, reflecting reduced influence from large traders.

Bitcoin Short Squeeze Potential Emerges as Leverage and Whale Activity Decline

Changes in leveraged positions indicate many short-term traders exited between $82,000 and $88,000.
Concentrated short positions above $92,000 may be vulnerable to a squeeze with upward momentum.
The market is noted for balanced conditions with thinner liquidity zones above current levels.

Any potential triggers such as ETF flows or shifts in Fed policy could rapidly drive Bitcoin above $98K-$100K.