Bitcoin Net Taker Volume Hits $309 Million Amid Price Drop
Bitcoin's price experienced a steady correction, dipping below $105,000. Crypto liquidations exceeded $1.2 billion, yet investor buying activity suggests potential for a bullish rebound.
Key Insights:
- Net taker volume on Binance reached $309 million, indicating increased buying pressure despite price fall.
- This positive net taker volume is the first since October 10, highlighting aggressive buy orders at market price.
- The divergence between rising taker volume and stagnant open interest implies spot market concentration rather than leveraged derivatives.
- Analyst Amr Taha sees this as a potential bullish signal, with accumulation around $105K setting the stage for a price rebound.
Gold Market Influence:
- Crypto analyst Crypto Jebb anticipates Bitcoin might decline further to about $92,000 before rebounding.
- Jebb suggests a capital rotation from gold to Bitcoin could boost prices to approximately $150,000 by January.
- Gold's market cap has surpassed $30 trillion, indicating strong momentum that may influence Bitcoin's future price movement.
