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The Bitcoin market appears to have resumed its upward momentum, with BTC’s price trading above the psychological $90,000 level as it reclaims major highs. As of today, BTC has been able to surge as high as $94,32 before now retracing to a current price of $93,473, marking a 3.1% increase in the past day.
A deeper look into market behavior reveals that activity on Binance, one of the leading crypto exchanges by volume, may be playing an outsized role in shaping Bitcoin’s short-term price direction.
Particularly, a CryptoQuant analyst has noted an uptick in aggressive market buying behavior, where participants are executing immediate purchase orders rather than passively waiting in the order book.
This form of execution, often tied to increased market conviction, has become more pronounced on Binance and may help explain Bitcoin’s recent surge.
Binance Taker Activity Suggests Buyers Are Leading the Market
According to CryptoQuant analyst Crazzyblockk, a significant rise in the taker buy/sell ratio on Binance has been observed, signaling a surge in aggressive buy-side activity. Over the past 30 days, the ratio has increased by 18.9%, while the 7-day ratio has climbed 6.2%.
These figures suggest that traders on Binance are entering the market with urgency, placing market buy orders to immediately match sell offers, often a sign of growing buyer confidence.
This activity highlights Binance’s growing role in short-term price discovery. When taker-driven momentum is concentrated on a single exchange, it can shape wider market direction through spillover effects.
The analyst wrote:
The taker buy/sell ratio isn’t just a reflection of who’s buying or selling—it’s a real-time indicator of conviction and pressure, and right now, it’s telling a clear story: buyers are in control, and Binance is the arena where that dominance is playing out most decisively. For those tracking market structure and looking for early signals of momentum, this is a metric that should not be overlooked.
Bitcoin Funding Rates Reflect Trader Disbelief Despite Price Gains
While order book data shows rising buy-side activity, Bitcoin derivatives metrics tell a different story. In a separate analysis, CryptoQuant analyst Darkfost pointed out that funding rates on Binance have turned negative, currently sitting at approximately -0.006.
This metric, which reflects the cost of holding long versus short positions in perpetual futures contracts, typically turns negative when short positions are more crowded than longs, indicating that many traders expect a price decline.
Darkfost noted that this disconnect between rising spot prices and negative funding rates mirrors past instances where Bitcoin later experienced extended rallies. Specifically, similar setups occurred in October 2023 and September 2024, both of which preceded sharp price increases.
If historical patterns hold, the current level of skepticism in the derivatives market may contribute to further upside, as short-sellers may eventually be forced to unwind positions.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
