Bitcoin Taker Buy/Sell Ratio Surges On Major Exchanges

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	428,594,415,825	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

428,594,415,825

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-21.37	-0.60%	3,558.92	3,558.84	3,559.02

Price Change

Price Change %

Current Price

Bid Price

Offer

-21.37

-0.60%

3,558.92

3,558.84

3,559.02

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,585.61	3,551.14	3,581.69	3,580.16	2,019.63 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,585.61

3,551.14

3,581.69

3,580.16

2,019.63 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	01:51:00	0.001654	3,559.03	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

01:51:00

0.001654

3,559.03

USD

Price x Volume	Volume	Base Symbol	Related Pairs
26,939,295.95	7,553.87	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

26,939,295.95

7,553.87

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

24/11/2024 11:30am

NEWSBTC

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? 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. 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. 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? Featured image from iStock, chart from TradingView

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