1 - BTC Longs / Shorts Delta :
* This chart shows the delta between long and short positions in Bitcoin over time.
* Significant spikes in long or short positions can indicate shifts in market
sentiment ( retail investors increasing long positions or or shorts get liquidated ).
* The chart highlights points where the long/short delta was notably high, with
data points marked at 62.6K and 65.8K BTC prices, showing a positive delta of
20.2M and 16.9M respectively.
2 - Net Taker Volume :
* This chart represents the net taker volume in USD, showing the net difference
between buy and sell orders.
* The graph indicates a net sell-off with significant negative volume spikes
correlating with a drop in BTC price.
* There are notable negative volume spikes at -72.9M, -102.3M, and -262.1M.
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