On-chain data shows both the Bitcoin taker buy and taker sell volumes registered large spikes over the past day as the price goes through volatility. Bitcoin Taker Buy And Taker Sell Volumes Have Surged Up To High Values As pointed out by an analyst in a CryptoQuant post, both the BTC taker buy and taker sell volumes hit more than $1.8 billion yesterday. The “taker buy/sell volume” is an indicator that measures the Bitcoin long and short volumes on derivatives exchanges. The metric distinguishes between these two volumes based on whether the transaction occurs at the ask price (taker buy) or the bid price (taker sell). When these volumes are high, it means the exchanges are receiving a large amount of orders right now. This kind of trend usually leads to higher volatility in the price of the crypto. Related Reading: Bitcoin MVRV Ratio Is Back Below 1 As Average Holder Slips Into Loss On the other hand, low values suggest there is little activity in the market at the moment, which can result in a more stale price action for BTC. Now, here is a chart that shows the trend in the Bitcoin taker buy and taker sell volumes during the last couple of weeks: The values of the two metrics seem to have shown large spikes during the past day | Source: CryptoQuant As you can see in the above graph, the Bitcoin taker buy and taker seller volumes have seen quite sharp increases recently. These spikes have come just after the ...
XRP Price Prediction For 24 November
