比特币（BTC）的飙升超过$ 93,000，链上数据表明，挤压很短

比特币飙升了93,000美元以上，而来自Binance和其他交易所的链链数据表明，这是短暂的挤压。

Key Insights:

关键见解：

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

比特币的价格飙升至93,000美元以上，二元组和其他交易所的链链数据表明，正在进行短暂的挤压。

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

随着技术图表的信号，加密市场的动态可能正在改变，各种机构活动显示出较小的销售压力和更多的购买力。

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.

发生的事情：4月23日，比特币价格上涨了93,000美元以上，二链的数据显示，加密庞然大物可能正在为短暂挤压。

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日之后，测量大型交易与总交换量的比率下降到0.4以下。这意味着鲸鱼是大型机构参与者，正在退后一步。鲸鱼可能卸货的分配区约为0.65，这是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.

从这一点开始，该比率稳步下降，表明散户投资者正在成为市场上的主要交易者。

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.

随着比特币的价格从4月15日的83,000美元提高到4月23日的93,000美元以上，这种过渡伴随着大型持有人的销售较少。

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.

同样，鲸鱼比下降伴随着所有交易所的销售压力较低，这创造了一个设置，在这种设置中，价格可能几乎没有阻力上涨。

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.

另一个指示销售活动减少的指标是交易所（也称为交换储量）上的总比特币。在同一时期，这些从257万BTC下降到253万BTC。这种趋势始于3月底，一直持续到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.

储量减少表明投资者正在将比特币从交易所转移到冷藏量，这通常是他们不打算在不久的将来出售的标志。

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指出的那样，此期间标志着“冷藏趋势”的开始 - 当硬币​​离开交换以更安全的方式将交易所存储时通常被使用。

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，汇率或比特币被送往交流，平均每天有40,000 BTC。这是在“投降区”中的典型行为，卖方将其资产转移到交易所以销售。 4月7日，流入峰值约为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，流入量下降到约20,000 BTC，并保持较低，这表明持有者计划出售的持有人更少。美国税日也于4月15日下降，这可能是较早的流入峰值的原因，因为投资者清算资产来支付其纳税义务。

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.

同时，流出或从交流中取出的比特币开始急剧上升。 4月22日，流出达到60,000 BTC。在加密图表上，这被标记为“积累转变”，这意味着买家在购买后将其比特币从交易所中取出，这种行为通常与长期持有有关。

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

这意味着低流入和高流出，这是一种流动模式，表明投资者的信心不断增长，卖方供应较少。

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，加密图表的泰坦（Titan）上的每周势头指标也在闪烁绿色。在当前周期中，该指标在2023年下半年和2024年中期再次翻转了两次。首次翻转后，比特币上升了172.97％。第二次之后，它上涨了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达到93,000美元时，发生了最新的翻转。强劲的向上移动的开始是在先前的绿色翻转中进行的。指标的转移通常被用作市场建设看涨势头的信号。

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

该模式与当前的链活动一致，这意味着市场条件可以支持进一步的上价行动。