Fun

Bitcoin Taker Buy/Sell Ratio Surges On Major Exchanges — Who Is Buying?

News Feed - 2024-11-24 08:11:29

Este artículo también está disponible en español.


The price of Bitcoin has somewhat cooled off, struggling to reach the highly-coveted $100,000 mark, after an intense bullish run all week long. However, investors appear to be undeterred by the sluggish price action of the premier cryptocurrency in the past few days. Bitcoin Taker Buy/Sell Ratio Is Rising — Impact On Price


In a November 23 post on the X platform, prominent crypto analyst Ali Martinez shared that traders have taken to loading their bags with Bitcoin in recent days. This on-chain observation is based on the “taker buy/sell ratio,” which tracks the taker buy and taker sell volumes for a specific cryptocurrency.


A greater-than-one value of the taker buy/sell ratio suggests that the taker buy volume is higher than the taker sell volume. This is usually considered a bullish signal, which suggests the willingness of investors to pay a higher price for a particular cryptocurrency (Bitcoin, in this case). Related Reading Altcoins Continue To Surge Following Trump’s Victory – More Gains Ahead? 1 day ago


In contrast, when the metric’s value is less than 1, it means that more sellers are willing to sell their assets at a lower price. Typically, this indicates a bearish sentiment amongst investors, as the selling pressure is overshadowing the buying pressure in the specific market.


Martinez highlighted in his post on X that the Bitcoin taker buy/sell ratio across major trading platforms, including Binance, OKX, HTX, and Bybit, has witnessed a significant surge in the past day. As shown in the chart below, the metric spiked to a value of over 28 on Binance, the world’s largest exchange. Source: Ali_charts/X


Similarly, the Bitcoin taker buy/sell ratio climbed well above the 1 threshold, showing the mounting buying pressure in the open market. This level of intense buying activity could ensure that the premier cryptocurrency continues its rally toward the $100,000 milestone.


As of this writing, the price of BTC stands around $97,800, reflecting a 1.1% decline in the last 24 hours. Nevertheless, the flagship cryptocurrency’s performance on the weekly timeframe is still impressive. According to CoinGecko data, BTC is up by nearly 8% in the past week. Who Is Buying? 


In another post on the X platform, Martinez revealed that a notable cohort of large investors (also known as whales) have been active in the Bitcoin market in the past few days. This class of whales involved here are those holding between 100 and 1,000 coins. Source: Ali_charts/X


According to data from Santiment, whales have purchased more than 40,000 BTC (equivalent to around $3.96 billion) in the past four days. Considering their influence on market dynamics, this buying activity from the Bitcoin whales could be bullish for price. Related Reading Deribit Moves $783M in Ethereum To Cold Storage: A Bullish Signal for ETH? 1 day ago The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView

News Feed

Ordinal Inscriptions Take the NFT World by Storm: Over 50,000 Added to the Bitcoin Blockchain in 2023
Ordinal Inscriptions Take the NFT World by Storm: Over 50,000 Added to the Bitcoin Blockchain in 2023 As of Friday, Feb. 10, 2023, the Bitcoin blockchain had seen the addition of m
The SEC Has Rejected Every Bitcoin ETF. This Firm Thinks It Has a Solution
One company thinks it knows how to get a bitcoin exchange-traded fund (ETF) approved by U.S. regulators. Wilshire Phoenix, a relatively young financial firm in New York, filed to la
Expanding Crypto Market Caps by 500% to 1,300%: Stablecoin Issuance Saw Significant Growth Last Year
Expanding Crypto Market Caps by 500% to 1,300%: Stablecoin Issuance Saw Significant Growth Last Year As crypto-assets grew immensely in value last year, the growth of the stablecoi
Turner Wright2 hours agoBrazilian securities regulator plans sandbox for tokenization in 2024Daniel Maeda with Brazil"s CVM said during Rio Innovation Week the regulator plans to explore a regulatory sandbox for use case
Crypto clicker games need real token use cases to be sustainable
Shiraz Jagati10 hours agoCrypto clicker games need real token use cases to be sustainableAs Notcoin and Hamster Kombat continue to amass millions of users, experts question the long-term viability of crypto clicker games
Derek Andersen5 hours agoPayPal applies for NFT marketplace patent for on- or off-chain asset tradingPayPal’s proposed NFT purchase and transfer system would handle fractionalization, DAOs and royalties through a third
You can now deploy your own L3 rollup for $50 a month
Brayden Lindrea5 hours agoYou can now deploy your own L3 rollup for $50 a monthCrypto infrastructure startup Conduit says users can now launch their very own layer 3 with “only a few clicks.”810 Total views1 Total sh
May crypto investments hit $1B driven by Notcoin launch — KuCoin
Ezra Reguerra12 hours agoMay crypto investments hit $1B driven by Notcoin launch — KuCoinKuCoin Research believes that the low float, high FDV trend in crypto led investors to other options like Notcoin, which had all
China’s Changing Perception of Bitcoin: Bitkan CEO Shares Insights After 7 Years in Crypto Industry
China"s Changing Perception of Bitcoin: Bitkan CEO Shares Insights After 7 Years in Crypto Industry Since the advent of bitcoin in 2009, cryptocurrencies have gone from being a n
Circle announces Solana programmable wallets, gas station
Ana Paula Pereira7 hours agoCircle announces Solana programmable wallets, gas stationCircle is adding support to the Solana blockchain, enabling integration across its Web3 features in two phases.2119 Total views27 Total
SWIFT declares second sandbox connector tests a success for CBDC and more
Derek Andersen2 hours agoSWIFT declares second sandbox connector tests a success for CBDC and moreHaving shown the application of its connector in complex use cases, SWIFT will continue to increase the connector’s func
Milady NFT memecoin reaches $18.6M presale goal in less than 2 hours
Zhiyuan Sun8 hours agoMilady NFT memecoin reaches $18.6M presale goal in less than 2 hours“Presale is live for the ever-fashionable SOL-loving Milady wif hat. Sending some love to the SOL community now,” the project