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NewsBTC 2022-03-02 19:00:43

Bitcoin Taker Buy/Sell Volume Shows “Buy” Signal As BTC Gears Up For Rally

On-chain data shows the Bitcoin taker buy/sell volume is now showing a “buy” signal as the crypto looks to be gearing up for a new rally. Bitcoin Taker Buy/Sell Volume Says Now May Be The Time To Buy As pointed out by an analyst in a CryptoQuant post, the BTC taker buy volume recently reached a value that has historically been a green signal for the crypto. The “taker buy volume” is an indicator that measures the long volume of Bitcoin on derivatives exchanges. The metric works by checking orders on the book to see how many takers are buyers. This volume divided by the total volume is called the taker buy ratio. When the value of this indicator rises above 0.50, it means the majority of the order takers are currently buyers on exchanges. On the other hand, the value of the ratio below this threshold implies that the Bitcoin short volume is higher at the moment. Related Reading | Bitcoin Sets Record For Largest Single Day Pump After One Year An alternate indicator is the “taker sell volume,” which measures the total number of sell orders or the short volume. Now, here is a chart that shows the trend in these Bitcoin indicators over the past few months: Looks like the taker buy ratio has risen in the past couple of days | Source: CryptoQuant As you can see in the above graph, the Bitcoin taker buy ratio has exceeded the value of 0.52 this week. Naturally, the sell ratio has gone down...

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