Bitcoin Taker Buy/Sell Ratio Hits Lowest Level Since May 2018

Bitcoin is currently testing previous all-time highs as support, with trading around $111,000 after a decline from above $123,000. This level is critical for market sentiment, as a breach could lead to accelerated declines.

Key points include:

On-chain data shows the 30-day moving average of the Taker Buy/Sell Ratio has dropped to its lowest since May 2018, indicating strong selling pressure.
The ratio now sits below the 0.98 threshold, signaling potential sell-off conditions.
Bitcoin's ability to maintain current support levels will be crucial for the next market phase.
The 50-day and 100-day moving averages trend downward, reinforcing a bearish outlook.
If support at $110,000–$111,000 fails, the next demand zone is around $105,000.

Market sentiment remains fragile, with heightened risks of further declines should resistance levels not be reclaimed.