Latest News: Crypto Market Shows Signs of Panic Sell, But Optimistic About BTC
- On-chain data shows taker selling rates are higher than maker selling, reflecting panic selling in the crypto market
- The thick purple color is the BTC price, while the thin blue color is the market bid level (taker)
- The green area shows "taker bid > taker demand" and the red area shows "taker demand > taker bid"
- Recently, the dominance of "taker demand > taker offer" has been very high, reaching the lowest level in the last two years
- Even in '22, when the downtrend was big, taker sales levels were not as high as they are today
- This shows that many investors sold at market prices because they were surprised
- In '22, the price rebound was weak, but in '23, the price rebound was strong
- If historical patterns repeat themselves, we can expect a price bounce sooner rather than later
- Written by SignalQuant
- On-chain data shows taker selling rates are higher than maker selling, reflecting panic selling in the crypto market
- The thick purple color is the BTC price, while the thin blue color is the market bid level (taker)
- The green area shows "taker bid > taker demand" and the red area shows "taker demand > taker bid"
- Recently, the dominance of "taker demand > taker offer" has been very high, reaching the lowest level in the last two years
- Even in '22, when the downtrend was big, taker sales levels were not as high as they are today
- This shows that many investors sold at market prices because they were surprised
- In '22, the price rebound was weak, but in '23, the price rebound was strong
- If historical patterns repeat themselves, we can expect a price bounce sooner rather than later
- Written by SignalQuant