Market Analysis: Bitcoin Taker Activity, Whale Movements, and U.S. Labor Data Ahead of FOMC
* The latest U.S. ADP Non-Farm Employment Change data came in at 104,000, significantly above the forecast of 77,000, signaling continued resilience in the U.S. labor market.
* This stronger-than-expected reading suggests that private-sector job creation remains robust, a factor that could influence the Federal Reserve’s decision-making process.
Binance: Net Taker Volume Reenters Deep Negative Territory:
* The Net Taker Volume on Binance has shown renewed bearish activity, with volume revisiting the -80 million USD zone.
* This reflects a notable increase in aggressive selling, either from retail traders offloading spot positions or from traders opening new short positions, speculating on further downside.
* The consistent red clusters—particularly during the July 25 and July 29 selloffs—highlight heightened bearish sentiment, possibly driven by macro uncertainty or recent price volatility.
Whale Activity Signals Accumulation and Positioning:
On July 30, the Whale Screener detected meaningful activity.
* Notably, there was an increase in stablecoin deposits (USDT), coupled with Bitcoin withdrawals, which suggests accumulation behavior.
* Such flows can act as a bullish divergence from short-term retail selling pressure.
Conclusion: Fed Likely to Hold Rates Steady Amid Strong Jobs Report
* The recent activity on Binance Net Taker Volume indicates a significant change in retail sentiment, with many traders selling spot Bitcoin or opening short positions, reflecting an increase in bearish expectations.
* In contrast, select whale wallets have shown increased activity by depositing stablecoins and withdrawing Bitcoin, a classic accumulation pattern that often precedes bullish reversals.
* With today’s FOMC meeting, the Federal Reserve is expected to leave interest rates unchanged in the upcoming policy decision.
Written by Amr Taha
