Key Insights:
Bitcoin’s net taker volume has bounced back from deeply bearish to neutral levels.
Onchain and market data reflect organized profit-taking rather than panic-induced selling.
Binance figures reveal Bitcoin’s most significant buying momentum since July.
Bitcoin (BTC) price has stabilized above $120,000 after a sharp correction from its all-time high earlier this week. With buyers re-entering, both spot and derivatives markets seem to be aligning for a more stable scenario, laying a stronger groundwork for the next upward movement.
As per CryptoQuant, a noticeable shift in the medium-term trend of derivatives markets has occurred. The net taker volume, which assesses the balance between buy and sell orders, has bounced back from a profoundly bearish -$400 million to a neutral level, indicating “a genuine transition in dominance between buying and selling pressure.”
A comparable shift was observed during Bitcoin’s April correction, which facilitated a subsequent uptrend of 51% over 13 weeks. However, analysts warned that a drastic move into strongly positive territory could indicate an overheated market if buying pressure escalates too rapidly.
In a related note, Alphractal CEO Joao Wedson stated that the buy/sell pressure delta remains strongly positive. “Metrics like this can elevate your decision-making accuracy significantly,” Wedson remarked, highlighting that strategic buying during periods of weak sentiment has consistently yielded positive results in recent months.
Additionally, Swissblock analytics emphasized that short-term profit-taking has emerged following Bitcoin’s all-time high near $126,000, but it was “controlled and not panic-driven.”
The analytics platform asserted that maintaining above $120,000–$121,000 would affirm a “healthy cooling phase,” preparing for renewed demand and the next upward movement.
Related: $11B Bitcoin whale returns with $360M BTC transfer after 2 months
Highest buying surge since July signals “real liquidity”
Binance data supports the narrative of ongoing buying momentum. Since early October, Bitcoin’s price has surged to $124,000 from about $117,000, with net buying pressure (vol_delta) surpassing $500 million on various days, signifying that buy volume exceeded sell volume by that margin.
The imbalance ratio (imbalance_pct) reached 0.23, indicating that buy orders were approximately 23% higher than sell orders, with a Z-Score climbing to 0.79, reflecting elevated daily buying activity.
These metrics suggest that there’s more than just transient enthusiasm; they indicate a resurgence of institutional and whale participation. Daily trading volumes have surged to their highest levels since July, indicating that Bitcoin’s rise is supported by actual liquidity rather than mere speculation.
While some recent sessions displayed a slight decrease in volume delta, broader indicators such as stable volatility and ongoing accumulation among mid-sized holders suggest strong market confidence.
This pattern sharply contrasts with September’s weakness and reinforces the view that any retracement toward the $120,000 region could serve as an opportunity for strategic accumulation rather than indicating the start of a significant reversal.
Related: Bitcoin has room for growth: Why analysts say $300K is still in play
This article does not provide investment advice or recommendations. All investment and trading activities involve risk, and readers should perform their own research when making decisions.
