18 hour ago
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BEARISH 📉 : Bitcoin Net Taker Volume Sees Third-Largest Bearish Spike
Recent data indicates a significant decline in the Bitcoin Net Taker Volume on Binance, with one of the most negative values in recent years as Bitcoin's price has dropped below $80,000.
Key Points
- The Bitcoin Net Taker Volume measures the net amount of taker buy or sell volume in a futures market. A negative value suggests bearish sentiment as sell volumes surpass buy volumes.
- A chart shows a sharp decline into negative territory, indicating increased bearish positioning on Binance.
- This is the third largest sell-off by Sell Taker Volume Dominance in two years, following previous large sell-offs after Bitcoin's all-time high above $126,000.
- Bitcoin often moves contrary to majority expectations, suggesting potential for future price changes.
- In the derivatives market, over $783 million in liquidations occurred within 24 hours, with $484 million involving long positions.
- Bitcoin briefly dipped below $75,000 but has since rebounded to around $78,900.
The situation reflects volatility in digital asset derivatives and highlights the dominance of short sentiment currently affecting the market.