Bitcoin Faces Resistance Amid Surge in Exchange Inflows

Bitcoin's net inflow to centralized exchanges (CEX) has surged to 9,905 BTC, marking the largest single-day inflow in the past 30 days, according to ChainCatcher. This influx has prevented Bitcoin from effectively breaking through resistance levels. CryptoQuant analyst Woominkyu highlighted concerns over the Exchange Whale Ratio, which spiked to 0.707 on April 27, the highest in over a week. This indicates that more than 70% of the inflow transactions are dominated by the top 10 entries, suggesting that large holders are actively transferring tokens to CEX, possibly in preparation for distribution. Woominkyu believes that the combination of whale-driven inflow and rising CEX reserves suggests that smart money is preparing to sell at higher prices. Unless this inflow is quickly absorbed, the likelihood of retesting the $74,000 to $75,000 support zone in the short term is significantly increasing.