Bitcoin Soars Past $100K: Is This the Start of a Massive Bull Run or a Trap?

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<a href="https://minority-mindset.com/btc-usd/">Bitcoin</a> Bulls In Control? <a href="https://usdinrusd.com/bnb-usd/">Binance</a> Taker Buy-Sell Ratio Points To Strong Momentum

According to a recent analysis by an on-chain expert named Crazzyblockk in a CryptoQuant Quicktake post, the Buy-Sell Ratio of Bitcoin (BTC) on Binance has increased to 1.131. This suggests that there is more buying activity than selling in the market right now, which is typically a sign of growing bullish sentiment and markets dominated by active buyers.

Bitcoin Riding The Bullish Wave

With Bitcoin trading just above $100,000, the Buy-Sell balance on Binance, as indicated by the Taker metric, appears to be shifting towards the bulls. Crazzyblockk’s assessment reveals a current ratio of 1.131, signifying substantial buying pressure. This suggests that buyers currently hold more influence over sellers on Binance, pointing towards an upward trend.

For beginners, the Binance Taker Buy-Sell Ratio is a tool that shows the difference between active buyers and sellers of Bitcoin on Binance. If the ratio exceeds 1, it means buyers are more prevalent (indicating a bullish outlook), while a ratio less than 1 suggests sellers have the upper hand (signaling a bearish trend).

At present, the 7-day running average of this ratio stands at 1.045 and is increasing. Moreover, the 30-day price change has soared by 12.1%, suggesting continuous buyer demand and robust upward trend.

While some signals may indicate positive trends, it’s important to note that the Z-score for our ratio has climbed up to 2.45. This statistical measure indicates how much the current value varies from the average, and a high number like this could signal that the market might be approaching overbought conditions, according to our analyst.

Historically, when the ratio exceeded 1.1 and had high z-scores, a correction would typically occur before the upward trend could continue.

In a nutshell, Crazzyblockk pointed out that the data provided by Binance comes with numerous advantages. For example, its depth of liquidity within the order books provides a precise depiction of market takers’ actions. Moreover, its substantial trading volume makes it a trustworthy gauge for market trends.

Regarding strategy, the analyst pointed out that if this ratio stays over 1.1, while Bitcoin maintains its position above $99,000, it would be a positive sign, suggesting bullish momentum. On the flip side, falling below 1.05 might signal more profit-taking and possibly a temporary market downturn.

BTC Breaking Downtrend But Faces Resistance Ahead

Currently, well-known Bitcoin analyst Rekt Capital has posted a weekly chart showing that Bitcoin (BTC) is nearly ready to burst through a multi-year downtrend that originated in December 2024. According to this analyst’s interpretation, BTC needs to maintain its value above $98,700 to verify the breakout and set the stage for an uptrend targeting the next resistance point at approximately $104,500.

Analyst Ali Martinez identified a significant barrier at approximately $101,673 – an area where roughly 81,910 Bitcoins had been stored earlier. He cautioned that if the price doesn’t surpass this mark, it could lead to a period of sideways movement or consolidation.

To keep from experiencing a significant drop, Bitcoin (BTC) needs to hold strong at specific key support points. As mentioned by Martinez in another post, if BTC drops below the $93,198 support level, it could potentially plummet further down to approximately $83,444.

In a positive development, the usage of Bitcoin deposit wallet addresses has dropped to an 8-year minimum, which is considered a bullish signal suggesting that Bitcoin could potentially approach its record high even more closely. Currently, Bitcoin is trading at $101,333, representing a 3.7% increase over the past day.

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2025-05-09 04:14