Over the previous week, the worth of Bitcoin managed to place in one among its higher performances within the final one month. After ending August and beginning September beneath the psychological $110,000 stage, the premier cryptocurrency returned to above $115,000.
Whereas the Bitcoin value has considerably slowed down heading into the weekend, optimism is rising across the market about the opportunity of a recent rally. Apparently, the newest on-chain knowledge factors to the elevated chance of a “momentum-driven rally” for the Bitcoin value.
Binance Taker Purchase Promote Ratio Stays Constructive For 3 Days
In a September 12 put up on the X platform, crypto analyst Burak Kesmeci shared an thrilling on-chain perspective to help the rising bullish narrative across the Bitcoin value. In response to the net pundit, the Taker Purchase Promote Ratio on the world’s largest crypto alternate, Binance, has persevered within the constructive territory for 3 days.
The Taker Purchase Promote Ratio is an on-chain metric that compares the proportion of the taker purchase volumes to the taker promote volumes on crypto exchanges. A greater-than-one worth of this metric normally implies that the taker purchase quantity is greater than the taker promote quantity on an alternate (Binance, on this case). This development means that extra merchants are prepared to amass cash at the next worth on the buying and selling platform.
Then again, when the Taker Purchase Promote ratio is beneath 1, it signifies that the taker promote quantity is bigger than the taker purchase quantity within the alternate. Finally, this worth means that extra sellers are prepared to promote cash at a lower cost within the open market.
Supply: @burak_kesmeci on X
In response to CryptoQuant knowledge offered by Kesmeci, the Binance Taker Purchase Promote ratio has been above the 1 threshold over the previous three days. This metric, sitting round 1.04, suggests a rising bullish momentum and rising investor confidence out there.
What’s extra, the metric’s native peaks are round 1.15 in 2025, which means that the investor sentiment just isn’t overheated but and will see additional rise from its present level. On this case, Kesmeci concluded that the constructive investor sentiment on the world’s largest crypto alternate by buying and selling quantity might set the stage for a momentum-driven uptrend for the Bitcoin value.
Bitcoin Worth At A Look
As of this writing, the worth of BTC stands at round $115,900, reflecting no important motion previously 24 hours.
The value of BTC on the day by day timeframe | Supply: BTCUSDT chart on TradingView
Featured picture from iStock, chart from TradingView
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