Key takeaways:
Bitcoin’s net taker volume has bounced back from extreme bearish conditions to neutral territory.
On-chain and market analytics indicate measured profit-taking, not frantic selling.
Binance data reveals Bitcoin’s most robust purchasing momentum since July.
Bitcoin (BTC) price has stabilized above $120,000 after a sharp decline from its record high on Tuesday. As buyers re-enter the market, spot and derivatives markets seem to be moving toward a more balanced state, establishing a stronger base for the next upward movement.
As per CryptoQuant, the medium-term trend in derivatives markets has significantly shifted. The net taker volume, which represents the difference between sell and buy orders, has bounced back from an extreme bearish reading of –$400 million to a neutral status, indicating “a genuine change in the balance of buying and selling pressure.”
A similar shift was noted during Bitcoin’s correction in April, which later facilitated a renewed upswing of 51% in just 13 weeks. However, analysts warned that a sudden leap into highly positive territory could signal an overheated market if buying pressure escalates too swiftly.
Additionally, Alphractal CEO Joao Wedson pointed out that the buy/sell pressure delta has consistently remained positive. “Metrics like this can elevate your decision-making accuracy significantly,” Wedson remarked, underscoring that disciplined buying during periods of weaker sentiment has proven beneficial in recent months.
Meanwhile, Swissblock analytics noted that while there has been short-term profit-taking following Bitcoin’s all-time high near $126,000, it has been “controlled, not panic-driven.”
The analytics platform indicated that holding above the $120,000–$121,000 range would validate a “healthy cooling phase,” laying the groundwork for renewed interest and the next upward leg.
Related: $11B Bitcoin whale returns with $360M BTC transfer after 2 months
Strongest buying surge since July validates “real liquidity”
Binance data reinforces the narrative of sustained buying momentum. Since early October, Bitcoin’s price has risen to $124,000 from approximately $117,000, with net buying pressure (vol_delta) exceeding $500 million on several days, indicating that buy volume has surpassed sell volume by that margin.
The imbalance ratio (imbalance_pct) peaked at 0.23, signifying that buy orders exceeded sell orders by around 23%, while the Z-Score climbed to 0.79, indicating above-average daily purchasing activity.
These statistics indicate more than merely short-lived enthusiasm; they suggest a resurgence of institutional and whale activity. Daily trading volumes have reached their highest point since July, implying that Bitcoin’s ascent is supported by real liquidity, not just fleeting speculation.
Although some recent sessions demonstrated a slight decline in volume delta, broader indicators such as stable volatility and ongoing accumulation among mid-sized holders portray a robust market confidence.
This behavior starkly contrasts with September’s weakness and strengthens the belief that any retreat toward the $120,000 area could likely represent a strategic accumulation opportunity rather than the beginning of a deeper reversal.
Related: Bitcoin has room for growth: Why analysts say $300K is still in play
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
