Bitcoin Buying Volume on Binance Overtakes Selling for First Time in 6 Months
Bitcoin's recent price increase has slowed, currently trading at $94,686 after a nearly 10% rise over the past week. Market participants are reassessing its near-term direction following a recent correction. Analysts are examining spot market activity and on-chain indicators to assess Bitcoin's recovery sustainability. Notably, Binance's spot buying volume has surpassed selling volume for the first time in six months, indicating increased buying interest. The Cumulative Volume Delta (CVD) on Binance has turned positive, suggesting a shift in market sentiment. Additionally, Bitcoin's Short-Term Holder Realized Price (STH-Realized Price) is crucial for confirming a bull run; maintaining prices above this level could indicate continued bullish momentum, while staying below may warrant hedging strategies in derivatives markets.
