Editor's PiCK
"Binance, Bitcoin Spot Net Trading Volume Delta Turns Positive…Bullish Sign"
Summary
- Binance's Bitcoin spot net trading volume delta has turned positive, signaling active buying activity.
- The current Bitcoin price remains above $100,000, with selling pressure decreasing.
- However, it was noted that when Binance's spot trading volume increases sharply, it often coincides with short-term peaks.
The global virtual asset (cryptocurrency) exchange Binance has successfully turned the Bitcoin (BTC) spot net trading volume delta positive.
On the 19th (local time), a contributor to CryptoQuant's Dark Post reported, "Binance's Bitcoin spot net trading volume delta has turned positive again," indicating "a signal that buying activity in the spot market is becoming active again." The contributor added, "Although the Bitcoin price is over $100,000, the selling pressure has also significantly decreased," and stated, "The increase in volume in the current situation can be interpreted as a bullish sign."
However, the analyst noted, "Historically, when Binance's spot trading volume increases sharply, it often coincides with short-term peaks."
Meanwhile, the net trading volume delta is the difference between the buying and selling volumes occurring on the exchange, with a positive delta indicating strong buying volume.
As of 8:11 PM, Bitcoin is trading at $102,815, down 1% from 24 hours ago, based on the Binance USDT market.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
