Data shows that Binance’s net Bitcoin acceptance has been very positive recently, which suggests that bulls are actively betting.
Bitcoin Binance net taker volume is currently at a significant positive level
As CryptoQuant community analyst Maartunn explains in a new post on Platform X, Bitcoin taker buyers have dominated Binance’s platform over the past few days. The relevant metric here is “net taker volume,” which measures the difference between taker buyer and taker seller volume on any given centralized exchange.
When the indicator is positive, it means that the number of buyers on the platform exceeds the number of sellers. This trend shows that most users hold a bullish sentiment.
On the other hand, the indicator’s trading below the zero line suggests that a bearish mentality prevails on exchanges as short volumes outweigh long volumes.
Now, below is a chart shared by the analyst showing the trend of the 7-hour moving average (MA) Bitcoin net taker volume on Binance, the largest exchange in the cryptocurrency space.
As shown in the above chart, Bitcoin net taker volume has basically remained in the positive zone since April 11. The green value of this indicator is not small, which shows that futures users have been making some active bullish bets on the platform.
Following the news of a 90-day suspension of tariffs in most countries, BTC prices began to recover and sentiment on exchanges turned positive.
Bitcoin has historically moved in ways that surprise people, so this bullish sentiment could actually be a bad sign for a recovery rally. Still, it remains to be seen whether a top has been reached or if these investors’ bets will pay off.
In some other news, Bitcoin’s 30-day market value to realized value (MVRV) ratio has fallen to its lowest level in six months, as one analyst noted in a CryptoQuant Quicktake post.
The MVRV ratio is an indicator that basically reflects the profit and loss status of Bitcoin investors. As can be seen from the chart, the 30-day value of this indicator has dropped sharply recently, indicating a decline in the profitability of holders.
The same levels were reached several times last year, with BTC bottoming out on both occasions. Therefore, this trend could prove bullish for the cryptocurrency once again.
Bitcoin Price
At the time of writing, the price of Bitcoin is hovering around $85,800, having gained more than 8% over the past seven days.
