Posted 4/1/2024, 7:30:21 PM
Bitcoin Selling Pressure Mounts as Taker Buy/Sell Ratio Nears 2021 Peak Levels
- Bitcoin "taker buy sell ratio" indicator tracks ratio of taker buy vs sell volumes; values below 1 suggest selling pressure is dominant
- This ratio recently dropped below 1, nearing levels seen at 2021 bull market peaks when smart money began selling
- Ratio dropping below 0.97-0.98 could signal a market top based on 2021 pattern
- Ratio above 1.02 is important buying signal, though better at identifying overbought conditions than oversold
- Bitcoin investor groups have accumulated 95,000 BTC ($6.5 billion) over past month, rapidly building positions