Bitcoin Taker Buy Sell Ratio Hits Highest Value in 636 days
2022年9月12日 - 4:00AM
NEWSBTC
On-chain data shows the Bitcoin taker buy sell ratio has surged up
to a high not seen since almost two years ago. Bitcoin Taker Buy
Sell Ratio Observes Uplift In Recent Days As pointed out by an
analyst in a CryptoQuant post, the taker buy sell ratio is now at
its highest value in 636 days. The “taker buy sell ratio,” as its
name suggests, is an indicator that measures the ratio between the
taker buy volumes and the taker sell volumes. When the value of
this metric is greater than one, it means the long volume is
overwhelming the short volume right now. Such a trend suggests that
a bullish sentiment is more dominant in the market currently.
Related Reading: Bitcoin Stablecoin Supply Ratio Now Forms A “Buy”
Signal On the other hand, the ratio being below this threshold
implies taker sell volume is higher at the moment. This trend
naturally hints that the market holds a bearish majority sentiment.
Now, here is a chart that shows the trend in the Bitcoin taker buy
sell ratio over the last couple of years: The value of the metric
seems to have surged up in recent days | Source: CryptoQuant As you
can see in the above graph, the Bitcoin taker buy sell ratio
observed a spike in its value just recently. During this sudden
increase, the indicator hit a high of 1.14, a value that it hasn’t
seen since around 636 days ago. Related Reading: WATCH: Bitcoin
Bottoms As Easy As Pi? | BTCUSD September 9, 2022 Since these
latest values are higher than the “1” mark, the taker buy volumes
are currently more dominant in the market. Incidentally, the last
time these highs were seen was just before the 2021 bull run
started. If a similar trend follows this time as well, then the
current Bitcoin taker buy sell ratio values can prove to be bullish
for the crypto’s price. BTC Price At the time of writing, Bitcoin’s
price floats around $21.5k, up 9% in the last seven days. Over the
past month, the crypto has lost 10% in value. The below chart shows
the trend in the price of the coin over the last five days. Looks
like the value of the crypto has observed upwards momentum during
the past couple of days | Source: BTCUSD on TradingView After
plunging down hard just two weeks ago, Bitcoin has seen some sharp
recovery in the last few days as the crypto has regained the $21k
level. Currently, it’s unclear whether this recovery will last, or
if the coin will see a retrace soon. However, as mentioned before,
if the taker buy sell ratio is anything to go by, then BTC may see
a bullish outcome. Featured image from Jievani Weerasinghe on
Unsplash.com, charts from TradingView.com, CryptoQuant.com
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