Takers are prioritizing sell contracts on Binance crypto exchange.
Bitcoin was rejected at $95,000 and holds above $91,000.
The accumulation of altcoins has dropped as traders take profit.
Bitcoin market cooling is becoming evident as data from CryptoQuant highlights key shifts in market behavior. Over the past 24 hours, Bitcoin struggled to break $95,000 while finding critical support at $91,000.
CryptoQuant’s 30-day Taker Buy Sell Ratio, a key market indicator, has turned negative on Binance, suggesting increased sell-side pressure after weeks of strong buying momentum. Analysts believe the current market pullback reflects a period of consolidation following Bitcoin’s peak at $108,000.
Currently, takers are filling more sell orders than buy orders. This is a short-term bearish signal. However, it doesn’t necessarily indicate the end of the bull market. Investors need to observe if this trend continues.
If sell contracts remain dominant, a deeper correction could occur. But if buying pressure returns, the bull market may resume its upward trajectory, especially with the pro-crypto Trump administration taking office in January 2025.
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