Bitcoin’s Net Taker Volume Turns Positive, New All-Time High Incoming?
Bitcoin is currently trading at $95,409, reflecting a 1.7% gain in the last 24 hours and nearly 15% increase over the past two weeks. Market indicators suggest improving sentiment, particularly in the derivatives market, which now constitutes about 90% of Bitcoin's trading volume. Analysts report a shift favoring long positions over shorts, indicating potential for continued upward movement. The 30-day moving average of Bitcoin’s Net Taker Volume has turned positive, signaling that buying pressure exceeds selling pressure. This trend in the derivatives market may catalyze further price increases. Additionally, adjustments to cycle models indicate that the current market resembles the latter stages of the 2017 bull market, suggesting significant upside potential before any major corrections occur.
