Key Takeaways
- Bitcoin’s spot market sentiment is now neutral after a prolonged sell-dominant phase.
- The transition is based on the taker cumulative volume delta, a metric tracking net buy/sell pressure on exchanges.
Bitcoin’s spot market sentiment has shifted from a sell-dominant phase to neutral conditions, according to a recent on-chain data analysis.
The transition reflects changes in Bitcoin’s taker cumulative volume delta, which measures the net difference between taker buy and taker sell volumes on exchanges. This metric indicates that selling pressure has eased after an extended period of dormant selling activity.
CryptoQuant, a crypto data analytics platform, tracks these market indicators to illustrate net pressure between market participants over specific time periods. The platform’s charts show Bitcoin moving away from the sustained selling pressure that has characterized recent trading activity.
The taker cumulative volume delta serves as a key sentiment indicator, with the current neutral reading suggesting more balanced conditions between buyers and sellers in Bitcoin’s spot markets.
Source: https://cryptobriefing.com/bitcoin-taker-cumulative-volume-delta-neutral-spot-market/
