The spike in $BTC taker buy-sell volume ratio explains the recent bear failure around $29,000. Reports godbole17.
Bitcoin's "taker buy-sell ratio" recently surged on several crypto exchanges, signaling a renewed bullish sentiment around $29,000.
The ratio hit a three-and-a-half-month high of 1.17 on BitMEX on Tuesday and a six-month high of 1.31 on OKX on July 30. Market takers are entities that put orders to buy or sell securities immediately, taking out liquidity from the order book. Trading firms, individual investors fall into the category of takers. Meanwhile, entities in the business of creating order book liquidity are market makers.The data explains the recent bear failure to keep bitcoin below $29,000.
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