Start Selling Bitcoin When This Happens, This Quant Says
2024年4月2日 - 4:30AM
NEWSBTC
A quant has explained that the past pattern in the Bitcoin taker
buy-sell ratio metric may suggest the best window to start selling
the asset. Bitcoin Taker Buy Sell Ratio May Reveal Selling
Opportunities In a CryptoQuant Quicktake post, an analyst discussed
the trend in the Bitcoin “taker buy sell ratio.” This indicator
keeps track of the ratio between the Bitcoin taker buy and taker
sell volumes. When the value of this metric is greater than 1, the
investors are willing to purchase coins at a higher price right
now. Such a trend implies a bullish sentiment is the dominant force
in the market. Related Reading: Traders Not Showing Dogecoin FOMO,
Good Sign For Rally? On the other hand, the indicator being under
the mark suggests the selling pressure may be higher than the
current buying pressure in the sector. As such, the majority may
share a bearish mentality. Now, here is a chart that shows the
trend in the 30-day moving average (MA) Bitcoin taker buy-sell
ratio over the last few years: The 30-day MA value of the metric
appears to have been going down in recent days | Source:
CryptoQuant As the above graph shows, the 30-day MA Bitcoin taker
buy-sell ratio has recently fallen below the 1 level. The quant has
highlighted in the chart the region of the metric where the bull
run peaks in 2021 formed. The indicator would appear to dip below
0.97 during both the heights registered in that bull run. According
to the analyst, such indicator values suggest the euphoria phase of
the market where the smart money starts to sell. Still, the prices
continue to hold on as the retail investors continue to FOMO into
the asset. So far, the indicator has approached the 0.98 level in
its latest decline, implying that it’s not yet at the levels where
the possibility of a top might become significant if the pattern of
the previous bull run is anything to go by. The Bitcoin taker buy
sell ratio may also be used as a buying signal, with the 1.02 level
being an important level. The quant notes, however, that the metric
is better at showing an overbought market than it is for
pinpointing oversold conditions. Related Reading: What’s A Simple
Strategy For Buying & Selling Bitcoin? This Analyst Answers In
other news, as an analyst pointed out in a post on X, all the
Bitcoin investor groups have accumulated a net amount of 95,000 BTC
($6.5 billion at the current exchange rate) over the past month.
The trend in the monthly balance change for all BTC cohorts |
Source: @jvs_btc on X This rapid accumulation suggests that the
Bitcoin investor groups have been buying up significantly more than
the miners have produced. The chart shows that an accumulation
streak of similar levels followed the recent rally in the asset, so
this latest one can also be bullish for the asset. BTC Price At the
time of writing, Bitcoin is trading at around $68,600, up more than
3% over the past week. Looks like the price of the coin has
registered a sharp drop in the past 24 hours | Source: BTCUSD on
TradingView Featured image from iStock.com, Glassnode.com,
CryptoQuant.com, chart from TradingView.com
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