Bitcoin supply tightening: A large outflow of exchange balances sounded the "short squeeze alarm" and BTC broke through $102,000 again

Followin' the recent plunge of BTC to $94,500, the price has steadily risen from the low of $99,200 on Friday, reaching $102,666 this (14th) morning, a gain of nearly 3.5%. As of the time of writing, it is reported at $102,066, up about 2.4% in the last 24 hours, challenging the historical high of $104,000. Regarding ETH, it briefly surpassed $3,968 on Saturday morning, but the upward momentum soon faded, and it consolidated above $3,900. Prior to the deadline, it was reported at $3,917, down about 0.1% in the last 24 hours. 10x Research: The tightening BTC supply and the declining exchange balances signal a potential "squeeze" scenario, which may drive further BTC price increases. The introduction of BTC ETF options could exacerbate this situation and potentially trigger an additional "gamma squeeze", amplifying the price pressure. CryptoQuant: ETH is expected to challenge the historical high of $5,200, driven by the significant increase in ETH holdings by spot ETFs in the US and the deflationary pressure due to the increasing ETH burn rate. TRON, BTC, ETH, CRO, HT, AR, ONT, RON, ONG, Kraken, OKX, Gemini