{"id":524815,"date":"2023-03-29T15:00:40","date_gmt":"2023-03-29T15:00:40","guid":{"rendered":"https:\/\/wncen.com\/?p=524815"},"modified":"2024-06-11T08:12:38","modified_gmt":"2024-06-11T08:12:38","slug":"bitcoin-net-taker-volume-bullish-crossover","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-net-taker-volume-bullish-crossover\/","title":{"rendered":"Bitcoin Net Taker Volume Nears In On Bullish Crossover"},"content":{"rendered":"
On-chain data shows the Bitcoin net taker volume is approaching a break above a line that has historically been a bullish signal for the price.<\/p>\n
As pointed out by an analyst in a CryptoQuant post<\/a>, this kind of crossover has appeared four times during the past year or so. The “net taker volume” is an indicator that measures the difference between the taker buy and taker sell volumes in the market.<\/p>\n This metric shouldn’t be confused with the taker buy\/sell ratio<\/a>, which, as its name already implies, tells us about the ratio between these two volumes, rather than their difference.<\/p>\n When the net taker volume has a positive value, it means the taker buy volume is currently greater than the taker sell volume. Such a trend suggests that bullish sentiment is more dominant in the market right now.<\/p>\n On the other hand, the indicator having values less than zero implies the short volume is overwhelming the long volume at the moment, and hence, a bearish sentiment is shared by the majority of the investors.<\/p>\n Now, here is a chart that shows the trend in the 30-day moving average (MA) Bitcoin net taker volume over the last year:<\/p>\n <\/p>\n As you can see in the above graph, the quant has marked the relevant points of the trend for the 30-day MA Bitcoin net taker volume, as well as the corresponding pattern that the price of the asset<\/a> displayed.<\/p>\n It seems like whenever this indicator has crossed above the zero line from the negative zone, the value of the cryptocurrency has followed up with riding on some upwards momentum.<\/p>\nLooks like the 30-day MA value of the metric has been rising in recent days | Source: CryptoQuant<\/a><\/pre>\n