Key takeaways
- Bitcoin’s spot market sentiment is now neutral after a prolonged sell-dominated phase.
- The transition is based on the participant’s cumulative volume delta, a metric tracking net buying/selling pressure on exchanges.
Bitcoin’s spot market sentiment has shifted from a sell-dominated phase to neutral conditions, according to a recent information on the chain analysis.
The transition reflects changes in Bitcoin’s cumulative volume delta, which measures the net difference between the buyer’s buying and selling volume on the exchanges. This measure indicates that selling pressure has decreased after an extended period of dormant selling activity.
CryptoQuant, a crypto data analysis platform, tracks these market indicators to illustrate the net pressure between market participants over specific time periods. The platform’s chart shows Bitcoin moving away from the persistent selling pressure that has characterized recent trading activity.
Taker’s cumulative volume delta acts as a key sentiment indicator, with the current neutral reading suggesting more balanced buyer-seller ratios in Bitcoin’s spot markets.