Bullish sentiment could be returning to Bitcoin as a key metric from Binance, the largest crypto exchange by trading volume, shows that buyers are starting to dominate the platform’s volumes.
The Binance Taker Buy Sell Ratio, which calculates the ratio of buyers to sellers of Bitcoin (BTC) in Binance, “has returned to neutral territory,” CryptoQuant contributor DarkFost said in an April 15 note.
Bitcoin’s bullish momentum is “picking up again”
The ratio currently stands at 1.008. When the ratio is higher than 1, buyers — usually a bullish sentiment indicator — dominate volumes, conversely, a ratio below 1 indicates that sellers, or bearish sentiment, are dominating.
Bitcoin is trading at $83,810 at the time of publication. Source: CoinMarketCap
Bitcoin is trading at $83,810 at the time of publication, down 1.47% over the past seven days, <a data-ct-non-breakable="null" href="https://coinmarketcap.com/currencies/bitcoin/" rel="null"