The Enigma Trader
Netflow Flips Positive as $90K Support is Tested
Bitcoin's Market Structure is hitting a pivotal junction. Following a heavy accumulation phase in December, marked by a massive -11.5K BTC net outflow, the Context has shifted. Over the last 48 hours, exchange netflows have flipped positive (+1.1K BTC) as price retraces from the $94K local high. This shift indicates that the aggressive "Smart Money" withdrawal trend has paused, giving way to minor distribution or de-risking near the $90K psychological support. While the inflow volume is currently low compared to December’s outflows, a sustained "green" netflow environment would suggest a buildup of sell-side pressure. Traders should monitor if the $90K level holds, a breakdown here, paired with rising inflows, would confirm a shift in Bias from bullish to short-term corrective.