The net trading volume has significantly decreased, let's understand this! 👀
The derivatives market is affecting the pace of #البيتكوين and recent data is sounding the alarm. The net purchase volume, which measures the net volume of purchases/sales in futures, has entered negative territory and continues to decline.
🔴 This indicates a reduction in buying pressure... while cautious and bearish sentiments are increasing among traders.
❗When this indicator turns positive, it suggests a possibility of a recovery in price strength. But for now:
🔻 Seller volume is dominating
🧊 A cold sentiment prevails
📉 Bitcoin has declined after being rejected at $110,000
📊 Currently around $100,000
If the net recipient remains negative, there may be more selling pressure. However, if the indicator turns "green" again in the coming days, this could be the push that #BTC needs to gain new momentum.
👁️ Be aware, changes in net trading volume have historically predicted strong rallies in the past. Do you think it could be an indicator of convergence at the present time? Leave your opinion in the comments! 👇
