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Bitcoin is now above $104,000, after a double-digit rise in the last week. BTC currently trades for $104,271. This is a small decrease from its record high price of $109,000.
The recent surge in prices is not an isolated event. It appears to be closely linked with broader macroeconomic development, most importantly, the recent easing of trade tensions between the US and ChinaBoth countries have reduced tariffs on some imports and certain exports.
These policy changes have prompted a positive response from market participants, indicating heightened risk appetite in both traditional and digital assets markets.
Bitcoin is on a rally this weekend reflects this optimismAnalysts have identified key technical indicators that point to a growing buyer power. This indicator is the Taker Sell Buy Ratio. It has been able to mark previous price turning points for Bitcoin.
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Increased Bitcoin Buy-Sell Ratios Signals Bullish Control
CryptoQuant contributor G a a h highlighted This is a sign that the Taker Sell Ratio has increased to an important threshold of 1,02, which measures the ratio between market sell orders and buy orders. Similar levels in the past have been correlated with important inflection points for Bitcoin.
This metric, for example, reached similar highs in late 2022, when Bitcoin was trading between $15 and $20,000. It also did so again in 2023, as Bitcoin crossed the resistance level of $30,000.
This recent break above the 1,00 line, according to G A a H, reflects a rise in aggressive purchasing activity. Market takers are once again active. asserting short-term control. It is possible that the upward momentum will continue to be maintained in near-term.
The analyst cautioned, however, that volatility spikes have been preceded by these conditions in the past, signaling both the beginning and the reversal market trends. The analyst wrote the following:
Note that this level was associated with both reversal areas or periods of high volatility in the past, which marked trends’ beginnings and ends. This means that BTC could be driven to new heights by the buyer’s appetite.
Prices are confirming the strength of the market
Separate analysisCryptoQuant analyst Crypto Dan used the realized Bitcoin price, which is a metric reflecting the average BTC purchase price to determine market sentiment.
According to the report the realized price continues to rise. This indicates that investors continue increasing their BTC holdings at higher rates. The trend is different from the previous cycle, when a decline in realized prices preceded sharp corrections.
Crypto Dan attributes this current growth to the institutional inflows through corporate balance sheet and spot Bitcoin ETF purchases. The channels that have been used to bring in capital are a major factor for the increase of average purchase price. reinforcing market structure.
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The realized price trend indicates that there is more potential for the current rally to continue. The macroeconomic setup is still intact, with tariff cuts and the on-chain indicators showing green. constructive for Bitcoin’s continued strength Near-term.
Charts from TradingView and DALLE were used to create the featured image.
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Source: www.newsbtc.com
