On-chain data shows the Bitcoin taker buy sell ratio has surged up to a high not seen since almost two years ago.<\/p>\n
Bitcoin Taker Buy Sell Ratio Observes Uplift In Recent Days<\/p>\n
As pointed out by an analyst in a CryptoQuant post<\/a>, the taker buy sell ratio is now at its highest value in 636 days.<\/p>\n The \u201ctaker buy sell ratio<\/a>,\u201d as its name suggests, is an indicator that measures the ratio between the taker buy volumes and the taker sell volumes.<\/p>\n 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.<\/p>\n 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.<\/p>\n Now, here is a chart that shows the trend in the Bitcoin taker buy sell ratio over the last couple of years:<\/p>\n\n The value of the metric seems to have surged up in recent days | Source: CryptoQuant<\/a><\/p>\n As you can see in the above graph, the Bitcoin taker buy sell ratio observed a spike in its value just recently.<\/p>\n During this sudden increase, the indicator hit a high of 1.14, a value that it hasn\u2019t seen since around 636 days ago.<\/p>\n Since these latest values are higher than the \u201c1\u201d mark, the taker buy volumes are currently more dominant in the market.<\/p>\n 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<\/a> for the crypto\u2019s price.<\/p>\n BTC Price<\/p>\n At the time of writing, Bitcoin\u2019s price<\/a> floats around $21.5k, up 9% in the last seven days. Over the past month, the crypto has lost 10% in value.<\/p>\n The below chart shows the trend in the price of the coin over the last five days.<\/p>\n\n Looks like the value of the crypto has observed upwards momentum during the past couple of days | Source: BTCUSD on TradingView<\/a><\/p>\n 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.<\/p>\n Currently, it\u2019s 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.<\/p>\n Featured image from Jievani Weerasinghe on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n On-chain data shows the Bitcoin taker buy sell ratio has surged up to a high not seen since almost two years ago.<\/p>\n Bitcoin Taker Buy Sell Ratio Observes Uplift In Recent Days<\/p>\n As pointed out by an analyst in a CryptoQuant post<\/a>, the taker buy sell ratio is now at its highest value in 636 days.<\/p>\n The \u201ctaker buy sell ratio<\/a>,\u201d as its name suggests, is an indicator that measures the ratio between the taker buy volumes and the taker sell volumes.<\/p>\n 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.<\/p>\n 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.<\/p>\n Now, here is a chart that shows the trend in the Bitcoin taker buy sell ratio over the last couple of years:<\/p>\n The value of the metric seems to have surged up in recent days | Source: CryptoQuant<\/a><\/p>\n As you can see in the above graph, the Bitcoin taker buy sell ratio observed a spike in its value just recently.<\/p>\n During this sudden increase, the indicator hit a high of 1.14, a value that it hasn\u2019t seen since around 636 days ago.<\/p>\n Since these latest values are higher than the \u201c1\u201d mark, the taker buy volumes are currently more dominant in the market.<\/p>\n 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<\/a> for the crypto\u2019s price.<\/p>\n BTC Price<\/p>\n