BTC April 24, 2026 01:45–02:00 (UTC) Price Movement Attribution Report

1. Purpose of the Report

This report conducts a structured, data-driven deep attribution analysis of Bitcoin (BTC) during the time window from 01:45 to 02:00 (UTC) on April 24, 2026, where the return was +0.48% and price fluctuations occurred. The report focuses on quantifiable indicators such as on-chain data, trading volume, position changes, and capital flows, gradually deriving the causes of the fluctuation and clarifying the causal relationships at each stage. All conclusions are based on verifiable data to avoid subjective speculation.

2. Key Indicators and Data Source Explanation

1. Main Analysis Indicators

• Price Movement and Return: Changes in BTC price and return within the specified time window.
• On-chain Trading Volume and Capital Flows: Including net inflows/outflows on exchanges, whale activity, ETF flows, etc.
• Position Structure Changes: Such as futures/spot holdings, whale holdings, retail investor holdings, etc.
• Market Liquidity Indicators: Trading depth, order book thickness, active addresses, etc.
• Derivatives Market Dynamics: Open interest in futures and options, trading volume, funding rates, etc.

2. Data Sources

• Chain data platforms such as Cryip, CryptoQuant, Glassnode
• CoinGlass