Bitcoin's performance remains uncertain as it trades below $100,000, lacking upward momentum. Market participants question the reasons behind the stagnant rally. However, on-chain metrics and market indicators are beginning to offer insights into potential developments.
ShayanBTC from CryptoQuant highlights the taker buy-sell ratio, suggesting a possible shift in Bitcoin's momentum. A key metric in the futures market, this ratio, when trending above 1.0, indicates strong buying pressure. Recent trends suggest buyers could regain control, signaling a potential rally if the upward trend continues.
In addition, Bitcoin whale activity plays a significant role in current market dynamics. Grizzly, another analyst, notes that the Exchange Whale Ratio has reached a multi-year high, indicating increased activity among large investors. If whales reduce their asset inflows, it may signal diminished selling pressure, potentially setting the stage for broader market recovery and renewed investor confidence.
At the time of writing, Bitcoin trades at $95,102, down by 1.8% recently and 12.6% from its peak above $109,000 in January.
Źródło: www.newsbtc.com ↗