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Bitcoin Struggle Below $100K: Could These Market Signals Trigger the Next Rally?
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin’s Struggle Below $100K: Could These Market Signals Trigger the Next Rally?

Samuel Edyme
Samuel Edyme
3 months ago
3 mins read
Bitcoin’s Struggle Below $100K: Could These Market Signals Trigger the Next Rally?

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Bitcoin’s recent performance has left the market in a state of uncertainty. Trading below the $100,000 mark for days now, the cryptocurrency seems to be grappling with a lack of upward momentum.

Market participants seem to be questioning the forces holding back a more pronounced rally. Amid this challenging backdrop, some on-chain metrics and market indicators are beginning to offer potential insights into what might come next.

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Bitcoin’s Taker Buy-Sell Ratio Indicates Potential Shift

ShayanBTC, a contributor to CryptoQuant’s QuickTake platform, has offered an analysis centered on the taker buy-sell ratio. His insights suggest that a key metric in the futures market could signal a potential turn in Bitcoin’s momentum.

The taker buy-sell ratio measures whether buyers or sellers are more aggressively placing market orders. When this metric trends above 1.0, it typically indicates stronger buying pressure, while a value below 1.0 suggests that sellers are dominating. According to Shayan, recent shifts in this ratio could have significant implications.

In his latest post titled “Bitcoin Taker Buy-Sell Ratio Reversal: A Bullish Signal for Market Momentum?” Shayan highlighted a reversal in the metric’s 14-day moving average.

Following a prolonged decline, the ratio has now begun to rise. “This shift suggests that buyers are regaining strength and could soon take control of the futures market,” he explained.

Bitcoin taker buy-sell ratio.
Bitcoin taker buy-sell ratio. | Source: CryptoQuant

If this upward trend continues, breaking past the critical 1.0 threshold, it could indicate that buying pressure is finally outpacing selling, potentially setting the stage for a renewed bullish rally.

Whale Activity and Spot Exchange Trends

Meanwhile, another significant factor in Bitcoin current market is the activity of Bitcoin whales. Grizzly, another CryptoQuant analyst, highlights that the Exchange Whale Ratio has reached a multi-year high.

This metric measures the proportion of the top 10 inflows to spot exchanges relative to total inflows, and its recent upward trajectory highlights increased activity among large-scale investors.

Historically, a decline in whale deposits on spot exchanges has often preceded a bullish Bitcoin rally. The reasoning is that when these major holders reduce their asset inflows, it can indicate diminished selling pressure.

Bitcoin Exchange Whale Ratio on spot exchanges
Bitcoin Exchange Whale Ratio on Spot Exchanges. | Source: CryptoQuant

With the Exchange Whale Ratio remaining elevated, it is worth closely monitoring for any signs of a reversal. If whales begin withdrawing rather than depositing large amounts of Bitcoin, it could set the stage for broader market recovery and renewed confidence among smaller investors.

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At the time of writing, Bitcoin trades below $96,000 with a current price of $95,102. This trading price brings BTC down by 1.8% in the past and roughly a 12.6% decrease away from its peak above $109,000 established in January.

Bitcoin (BTC) price chart on TradingView
BTC price is moving sideways on the 2-hour chart. Source: BTC/USDT on TradingView.com

Featured image created with DALL-E, Chart from TrafdingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

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.

Read more

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.

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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.

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