1. BTC: Longs/Shorts Delta

This chart shows the net difference between long and short positions in Bitcoin (BTC) over time, denominated in USD. Here's what stands out:

- Positive Delta: Indicates more long positions than short positions or shorts get liquedated.

- Negative Delta: Indicates more short positions than long positions or longs get liquedated.

- Two notable points:

- At 57.9K, there is a significant long/short delta of 46.0M.

- At 58.2K, the long/short delta is 21.7M.

These large positive deltas suggest that, at those price points, there was a substantial net long position, indicating bullish sentiment among traders.

2. Net Taker Volume (Unit: USD)

Difference between buy and sell volumes. Positive values indicate more buying, while negative values indicate more selling.

Insights:

1. BTC: Longs/Shorts Delta:

- Large positive deltas suggest traders were predominantly holding long positions at those price points, indicating bullish sentiment.

- Monitoring these deltas can help identify potential support/resistance levels or market sentiment shifts.

2. Net Taker Volume:

- The net taker volume indicates buying or selling pressure.

- Positive net taker volumes coincide with rising BTC prices, while negative volumes correlate with price drops.

Implications

* The combination of high long/short delta and resistance at similar price points

suggests that while there's significant interest in longs, the market is

encountering selling pressure at resistance levels, preventing the price from

rising.

* The substantial negative net taker volume indicates that bears are currently

dominating, pushing the BTC price lower.

Written by Amr Taha