比特幣（BTC）的飆升超過$ 93,000，鏈上數據表明，擠壓很短

比特幣飆升了93,000美元以上，而來自Binance和其他交易所的鍊鍊數據表明，這是短暫的擠壓。

Key Insights:

關鍵見解：

Bitcoin price surged above $93,000, and on-chain data from Binance and other exchanges suggested a short squeeze was in the works.

比特幣的價格飆升至93,000美元以上，二元組和其他交易所的鍊鍊數據表明，正在進行短暫的擠壓。

The crypto market dynamics might be changing as signals from technical charts and various institutional activity showed less selling pressure and more buying strength.

隨著技術圖表的信號，加密市場的動態可能正在改變，各種機構活動顯示出較小的銷售壓力和更多的購買力。

What Happened: Bitcoin price rose above $93,000 on April 23, and on-chain data from Binance showed that the crypto behemoth might be setting up for a short squeeze.

發生的事情：4月23日，比特幣價格上漲了93,000美元以上，二鏈的數據顯示，加密龐然大物可能正在為短暫擠壓。

After April 15, the Exchange Whale Ratio, which measured the ratio of large transactions to total exchange volume, fell below 0.4. This implied that whales, the large institutional players, were stepping back from selling. A distribution zone where whales were likely unloading their holdings was around 0.65, which was the ratio’s peak during March 24–April 2nd.

4月15日之後，測量大型交易與總交換量的比率下降到0.4以下。這意味著鯨魚是大型機構參與者，正在退後一步。鯨魚可能卸貨的分配區約為0.65，這是3月24日至4月2日的峰值。

From this point on, the ratio declined steadily, showing that retail investors were becoming the main traders in the market.

從這一點開始，該比率穩步下降，表明散戶投資者正在成為市場上的主要交易者。

As Bitcoin’s price moved up from $83,000 on April 15 to over $93,000 on April 23, this transition was accompanied by less selling from large holders.

隨著比特幣的價格從4月15日的83,000美元提高到4月23日的93,000美元以上，這種過渡伴隨著大型持有人的銷售較少。

Also, the whale ratio decline was accompanied by a lower selling pressure across all exchanges, which created a setup where price could rise with little resistance.

同樣，鯨魚比下降伴隨著所有交易所的銷售壓力較低，這創造了一個設置，在這種設置中，價格可能幾乎沒有阻力上漲。

Another metric that signaled decreasing selling activity was the total Bitcoin held on exchanges, also known as exchange reserves. These decreased from 2.57 million BTC to 2.53 million BTC during the same period. This trend started towards the end of March and lasted until April 23.

另一個指示銷售活動減少的指標是交易所（也稱為交換儲量）上的總比特幣。在同一時期，這些從257萬BTC下降到253萬BTC。這種趨勢始於3月底，一直持續到4月23日。

The decrease in reserves indicates that investors are moving Bitcoin from exchanges to cold storage, which is generally a sign that they do not intend to sell in the near future.

儲量減少表明投資者正在將比特幣從交易所轉移到冷藏量，這通常是他們不打算在不久的將來出售的標誌。

As CryptoQuant noted, this period marks the start of a ‘cold storage trend’ – a term that is often used when coins are leaving exchanges to be stored offline in a more secure manner.

正如CryptoQuant指出的那樣，此期間標誌著“冷藏趨勢”的開始 - 當硬幣​​離開交換以更安全的方式將交易所存儲時通常被使用。

During late March and early April, exchange inflows, or Bitcoin being sent to exchanges, were high, averaging over 40,000 BTC daily. This is typical behavior in a “Capitulation Zone”, where the sellers move their assets to exchanges in order to sell. Inflows peaked at around 60,000 BTC on April 7.

在3月下旬和4月初，匯率或比特幣被送往交流，平均每天有40,000 BTC。這是在“投降區”中的典型行為，賣方將其資產轉移到交易所以銷售。 4月7日，流入峰值約為60,000 BTC。

However, inflows dropped to around 20,000 BTC by April 15 and remained low, indicating less holders were planning to sell. U.S. Tax Day also fell on April 15, and that could have been a reason for the earlier inflow spike as investors liquidated assets to pay for their tax obligations.

但是，到4月15日，流入量下降到約20,000 BTC，並保持較低，這表明持有者計劃出售的持有人更少。美國稅日也於4月15日下降，這可能是較早的流入峰值的原因，因為投資者清算資產來支付其納稅義務。

At the same time, outflows, or Bitcoin being taken out of exchanges, started to rise sharply. On April 22, outflows reached 60,000 BTC. On CryptoQuant charts, this is labeled as an “Accumulation Shift”, meaning that buyers are taking their Bitcoin off exchanges after buying, a behaviour that is typically linked to long-term holding.

同時，流出或從交流中取出的比特幣開始急劇上升。 4月22日，流出達到60,000 BTC。在加密圖表上，這被標記為“積累轉變”，這意味著買家在購買後將其比特幣從交易所中取出，這種行為通常與長期持有有關。

It means low inflows and high outflows, which is a flow pattern that indicates growing investor confidence and less sell-side supply.

這意味著低流入和高流出，這是一種流動模式，表明投資者的信心不斷增長，賣方供應較少。

Additionally, the weekly momentum indicator SOTT on Titan of Crypto’s chart is also flashing green. In the current cycle, this indicator has flipped twice before, once in late 2023 and once again in mid-2024. After the first flip, Bitcoin rose by 172.97%. After the second, it gained 92%.

此外，加密圖表的泰坦（Titan）上的每週勢頭指標也在閃爍綠色。在當前週期中，該指標在2023年下半年和2024年中期再次翻轉了兩次。首次翻轉後，比特幣上升了172.97％。第二次之後，它上漲了92％。

Just when BTC was hitting $93,000, the most recent flip occurred. The start of strong upward moves has come after previous green flips in the SOTT. The shift of the indicator is often used as a signal of the market building bullish momentum.

就在BTC達到93,000美元時，發生了最新的翻轉。強勁的向上移動的開始是在先前的綠色翻轉中進行的。指標的轉移通常被用作市場建設看漲勢頭的信號。

The pattern is in line with the current on-chain activity and implies that the market conditions could support further upward price action.

該模式與當前的鏈活動一致，這意味著市場條件可以支持進一步的上價行動。