Key takeaways:
Bitcoin’s net taker volume has moved from extremely bearish to neutral positions.
Onchain and market indicators show controlled profit-taking rather than panic selling.
Binance data reveals Bitcoin’s strongest buying momentum since July.
Bitcoin (BTC) price has stabilized above $120,000 following a sharp correction from its all-time high on Tuesday. As buyers re-enter the market, both spot and derivatives markets are aligning towards a more balanced condition, laying a stronger foundation for the next upward movement.
As per CryptoQuant, the medium-term trend in derivatives markets has notably shifted. The net taker volume, which compares sell and buy orders, has bounced back from an extreme bearish stance of –$400 million to a neutral level, indicating “a definitive shift in dominance between buying and selling pressure.”
A similar shift was observed during Bitcoin’s April correction, which set the stage for a renewed increase of 51% over 13 weeks. However, analysts warned that a rapid move into strongly positive territory might signal an overheated market if buying pressure accelerates too quickly.
Additionally, Alphractal CEO Joao Wedson pointed out that the buy/sell pressure delta remains strongly positive. “Indicators like this can enhance your decision-making accuracy significantly,” Wedson said, noting that disciplined purchasing during periods of weak sentiment has consistently yielded positive returns in recent months.
In the meantime, Swissblock analytics emphasized that while short-term profit-taking has occurred after Bitcoin’s all-time high near $126,000, it has been characterized as “controlled, not panic-driven.”
The analytics platform stated that maintaining levels above $120,000–$121,000 would confirm a “healthy cooling phase,” setting the stage for increased demand and the next upward movement.
Related: $11B Bitcoin whale returns with $360M BTC transfer after 2 months
Strongest buying surge since July validates “real liquidity”
Binance data supports 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) surpassing $500 million on multiple days, indicating that buy volume has outpaced sell volume by that amount.
The imbalance ratio (imbalance_pct) hit 0.23, indicating that buy orders were about 23% higher than sell orders, while the Z-Score climbed to 0.79, suggesting above-average daily buying activity.
These statistics reflect more than just short-term enthusiasm; they indicate a resurgence of institutional and whale engagement. Daily trading volumes have reached their peak levels since July, implying that Bitcoin’s rise is supported by genuine liquidity, rather than temporary speculation.
Even though some recent sessions exhibited a slight decrease in volume delta, broader indicators such as consistent volatility and ongoing accumulation among mid-sized holders indicate strong market confidence.
This behavior sharply contrasts with September’s weakness and strengthens the belief that any pullback toward the $120,000 area could serve as a strategic accumulation opportunity rather than the onset of a more profound 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.
