According to @52kskew, BTC’s pop into the 96K area appears to be a targeted squeeze of vulnerable short positioning (source: @52kskew). According to @52kskew, funding is still negative, and the way to confirm if built-up shorts have been swept is by the funding rate resetting toward 0 or slightly positive in the next funding period (source: @52kskew). According to @52kskew, because the move was initially spot-driven, traders should keep a close eye on spot flow today for confirmation signals (source: @52kskew).

According to Skew Δ on Twitter, Bitcoin ($BTC) saw a notable price bounce into the US market close, mirroring gains in equities. The move was supported by strong revenue reports from major US companies, which may increase trader confidence in risk assets. Skew Δ notes that today's spot flow was primarily driven by passive buyers, while taker bids helped lift prices. Market participants should monitor tomorrow's session closely for further trading signals, as funding rates and spot flows continue to shape short-term BTC price action (Source: @52kskew, April 30, 2025).