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Bitcoin Surpasses $70,000 Again Despite Negative Buyer Volume

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Bitcoin rose again above the $70,000 level in the last day, despite the negative volume of net borrowers of the asset.

Bitcoin net borrower volume has seen huge negative spikes recently

As Maartunn, community manager at CryptoQuant Netherlands, explained in a post on

“Net Taker Volume” is an indicator that tracks the difference between Bitcoin buying and selling volumes by takers in perpetual swaps. How can sales and purchase volumes be different? As CryptoQuant explains in its data guide:

   This concept is often confusing because each transaction requires a buyer and a seller of a particular underlying asset. However, depending on whether the order taker is a buyer or a seller (whether the transaction takes place at the ask price or the bid price), a distinction can be made between bought volume and seller volume.

When the value of this metric is positive, it means that the buyer’s purchasing volume is currently exceeding the buyer’s sales volume. This trend implies that the majority shares an optimistic sentiment.

On the other hand, the negative indicator suggests that more sellers are willing to sell the coin at a lower price, a sign that the bearish mindset is dominant.

The volume of net borrowers has been seeing large red spikes for some time now, as the analyst highlighted in the chart. “Bitcoin is taking a massive hit, with sales spikes in Net Taker Volume significantly stronger than before,” says Maartunn.

Interestingly, despite this bearish market sentiment, the price of Bitcoin has managed to hold up relatively well. Obviously, the coin’s bullish momentum faded as these negative spikes in net taker volume consolidated, but the fact that BTC showed strength against any sustained decline remains impressive.

One pattern that is perhaps visible on the chart is that although Net Taker volume has continued to see red spikes recently, its scale has gradually decreased.

Therefore, if this trend continues, the bearish mindset may eventually end and buying pressure will take over Bitcoin. Now it remains to be seen how the indicator will evolve soon.

BTC Price

Bitcoin fell below $68,000 yesterday, but today the asset has recovered and is now trading around $70,800.

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