- Bitcoin Taker Buy/Sell Ratio has surged to 1.02, signaling potential for a major breakout as mid-tier whales continue to accumulate.
- However, with overbought conditions and resistance near $105K, a short-term pullback remains possible before any new all-time highs.
Bitcoin momentum is building once again, with aggressive buying sweeping through the market. The Taker Buy/Sell Ratio has surged to 1.02, a level that has historically signaled major breakouts in Bitcoin’s price action. As the cryptocurrency hovers near all-time highs, many are speculating that a final push toward new record levels may be on the horizon.
According to a recent report from CryptoQuant, the Taker Buy/Sell Ratio has decisively crossed the 1.00 threshold, reaching 1.02 – a mark previously seen before Bitcoin’s significant price surges. Similar spikes were observed around the $15K-$20K range in late 2022 and just before Bitcoin’s $30K breakout in October 2023. As Bitcoin hovers just below its previous peak, the surge in market confidence hints at the possibility of a rally, but it also raises the risk of volatility.
Also read: Ethereum Nears $2.9K: Is the Bullish Rally Sustainable or Heading for a Cool Down?
The return of aggressive buying behavior, particularly among mid-tier whales holding between 1,000 and 10,000 BTC, suggests growing conviction. These whales are continuing to accumulate, with Glassnode reporting accumulation scores near 0.9, even as retail investors appear to be distributing their holdings. However, large whales holding over 10,000 BTC have pulled back from aggressive buying, returning to a neutral position.
Despite the bullish sentiment, Bitcoin is showing signs of potential exhaustion. Currently trading just above $103,800, BTC has struggled to break through the $105K level, which remains a critical resistance point. With the Relative Strength Index (RSI) sitting at 70.68, Bitcoin is in overbought territory, often a signal of local tops or minor pullbacks. The Moving Average Convergence Divergence (MACD) remains bullish but shows signs of flattening momentum, indicating that buying pressure may be cooling.
While the market remains optimistic, Bitcoin’s failure to push past $105K could trigger a short-term pullback, with $100K or lower support levels in play. If Bitcoin can break through this key resistance, however, the rally could continue, pushing toward new all-time highs.
In summary, Bitcoin’s momentum is building, but the next few days will be crucial. Will the Taker Buy/Sell Ratio continue to signal a breakout, or will Bitcoin face a correction before reaching new heights? Only time will tell.
