{"id":602707,"date":"2024-04-11T22:00:31","date_gmt":"2024-04-11T22:00:31","guid":{"rendered":"https:\/\/wncen.com\/?p=602707"},"modified":"2024-06-11T12:37:22","modified_gmt":"2024-06-11T12:37:22","slug":"bitcoin-70000-despite-negative-taker-volume","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-70000-despite-negative-taker-volume\/","title":{"rendered":"Bitcoin Back Above $70,000 Despite Negative Taker Volume"},"content":{"rendered":"

Bitcoin has surged back above the $70,000 level during the past day despite the negative Net Taker Volume for the asset.<\/p>\n

Bitcoin Net Taker Volume Has Seen Some Large Negative Spikes Recently<\/h2>\n

As explained by CryptoQuant Netherlands community manager Maartunn in a post<\/a> on X, selling spikes of a significantly heavier scale than before have recently appeared in the Bitcoin Net Taker Volume.<\/p>\n

Related Reading: Bitcoin 2 Months Through \u201cEuphoria Wave,\u201d How Long Was The Last One?<\/a><\/div>\n

The “Net Taker Volume<\/a>” is an indicator that keeps track of the difference between the Bitcoin taker buy and taker sell volumes in perpetual swaps. How can the sell and buy volumes be different? As CryptoQuant explains in its data guide:<\/p>\n

This concept is often confusing because every trade requires both a buyer and a seller of the given underlying asset. However, depending on whether the order taker is a buyer or seller (whether a transaction occurs at the ask price or the bid price), you can distinguish between long volume from taker seller volume.<\/p><\/blockquote>\n

When the value of this metric is positive, it means that the taker buy volume is overwhelming the taker sell volume right now. Such a trend implies a bullish sentiment is shared by the majority.<\/p>\n

On the other hand, the negative indicator suggests that more sellers are willing to sell the coin at a lower price, a sign that a bearish mentality is the dominant one.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin Net Taker Volume over the past year:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have been quite red in recent days | Source: @JA_Maartun on X<\/a><\/pre>\n
As the above graph shows, the Bitcoin Net Taker Volume has recently registered a sharp negative spike, implying that the taker sell volume has been higher than the taker buy volume.<\/p>\n
The Net Taker Volume has been seeing some large red spikes for a while, as the analyst highlighted in the chart. “Bitcoin is being hammered down massively, with selling spikes on the Net Taker Volume significantly heavier than before,” says Maartunn.<\/p>\n
Interestingly, despite this bearish sentiment in the market, the Bitcoin price has managed to hold up relatively well. Obviously, the coin’s bullish momentum has gone while these negative Net Taker Volume spikes have taken hold, but the fact that BTC has shown strength against any sustained drawdowns<\/a> is still impressive.<\/p>\n
Related Reading: Dogecoin Slows Down: What Needs To Happen For New DOGE Highs?<\/a><\/div>\n
A pattern that’s perhaps visible in the chart is that although the Net Taker Volume has continued to see red spikes recently, their scale has gradually decreased.<\/p>\n
Thus, if this trend continues, it’s possible that the bearish mentality will eventually run out, and buying pressure will take over Bitcoin. It now remains to be seen how the indicator develops shortly.<\/p>\n
BTC Price<\/h2>\n
Bitcoin declined below $68,000 just yesterday, but today, the asset has already bounced back and is now trading around $70,800.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the price of the coin has made some recovery over the past 24 hours | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Jievani Weerasinghe on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has surged back above the $70,000 level during the past day despite the negative Net Taker Volume for the asset. Bitcoin Net Taker Volume Has Seen Some Large Negative Spikes Recently As explained by CryptoQuant Netherlands community manager Maartunn in a post on X, selling spikes of a significantly heavier scale than before have recently appeared in the Bitcoin Net Taker Volume. Related Reading: Bitcoin 2 Months Through \u201cEuphoria Wave,\u201d How Long Was The Last One? The “Net Taker Volume” is an indicator that keeps track of the difference between the Bitcoin taker buy and taker sell volumes in perpetual swaps. How can the sell and buy volumes be different? As CryptoQuant explains in its data guide: This concept is often confusing because every trade requires both a buyer and a seller of the given underlying asset. However, depending on whether the order taker is a buyer or seller (whether a transaction occurs at the ask price or the bid price), you can distinguish between long volume from taker seller volume. When the value of this metric is positive, it means that the taker buy volume is overwhelming the taker sell volume right now. Such a trend implies a bullish sentiment is shared by the majority. On the other hand, the negative indicator suggests that more sellers are willing to sell the coin at a lower price, a sign that a bearish mentality is the dominant one. Now, here is a chart that shows the trend in the Bitcoin Net Taker Volume over the past year: The value of the metric seems to have been quite red in recent days | Source: @JA_Maartun on X As the above graph shows, the Bitcoin Net Taker Volume has recently registered a sharp negative spike, implying that the taker sell volume has been higher than the taker buy volume. The Net Taker Volume has been seeing some large red spikes for a while, as the analyst highlighted in the chart. “Bitcoin is being hammered down massively, with selling spikes on the Net Taker Volume significantly heavier than before,” says Maartunn. Interestingly, despite this bearish sentiment in the market, the Bitcoin price has managed to hold up relatively well. Obviously, the coin’s bullish momentum has gone while these negative Net Taker Volume spikes have taken hold, but the fact that BTC has shown strength against any sustained drawdowns is still impressive. Related Reading: Dogecoin Slows Down: What Needs To Happen For New DOGE Highs? A pattern that’s perhaps visible in the chart is that although the Net Taker Volume has continued to see red spikes recently, their scale has gradually decreased. Thus, if this trend continues, it’s possible that the bearish mentality will eventually run out, and buying pressure will take over Bitcoin. It now remains to be seen how the indicator develops shortly. BTC Price Bitcoin declined below $68,000 just yesterday, but today, the asset has already bounced back and is now trading around $70,800. Looks like the price of the coin has made some recovery over the past 24 hours | Source: BTCUSD on TradingView Featured image from Jievani Weerasinghe on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":602732,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,6481,86007,85582,92058,1119,1144],"class_list":["post-602707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-rally","tag-bitcoin-selling-pressure","tag-bitcoin-taker-buy-sell-volume","tag-bitcoin-taker-volume","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Back Above $70,000 Despite Negative Taker Volume<\/title>\n<meta name=\"description\" content=\"Bitcoin has surged back above the $70,000 level during the 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Back Above $70,000 Despite Negative Taker Volume","url":"http:\/\/wncen.com\/news\/bitcoin-70000-despite-negative-taker-volume\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-70000-despite-negative-taker-volume\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?fit=5028%2C3084"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin rally","bitcoin selling pressure","bitcoin taker buy\/sell volume","bitcoin taker volume","btc","btcusd"],"dateCreated":"2024-04-11T22:00:31Z","datePublished":"2024-04-11T22:00:31Z","dateModified":"2024-06-11T12:37:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Back Above $70,000 Despite Negative Taker Volume\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-70000-despite-negative-taker-volume\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-70000-despite-negative-taker-volume\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?fit=5028%2C3084\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin rally\",\"bitcoin selling pressure\",\"bitcoin taker buy\\\/sell volume\",\"bitcoin taker volume\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-04-11T22:00:31Z\",\"datePublished\":\"2024-04-11T22:00:31Z\",\"dateModified\":\"2024-06-11T12:37:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/jievani-weerasinghe-NHRM1u4GD_A-unsplash.jpg?fit=5028%2C3084","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/602707"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=602707"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/602707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/602732"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=602707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=602707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=602707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}