Bitcoin bullish sentiment is getting back in gear as Binance trading activity shows a shift to buyer dominance, which could mean a reversal of recent bearish pressure. The positioning change comes as analysts wait for a short squeeze if BTC hits $85,000.
According to CryptoQuant contributor DarkFost on April 15, the Binance Taker Buy Sell Ratio, a real-time sentiment indicator, has gone back to neutral at 1.008. The metric measures the ratio of buyer initiated trades to seller initiated trades. When the ratio goes above 1, it means growing demand and buy-side conviction.
Over the last few days, the ratio has been slightly positive, which means buyers are starting to take control of volumes on Binance’s derivatives markets. On April 14, when Bitcoin briefly went above $86,000, the ratio went above 1.1, which reinforces the narrative of a bull run.
$85K: The Level That Could Trigger Mass Liquidations
At the moment, Bitcoin is trading at $83,704, up 8.98% in the last 7 days, according to CoinMarketCap. But if BTC gets back to $85,000, it will put $637 million in short positions at risk of liquidation, according to CoinGlass.
This liquidation could be the catalyst, pushing Bitcoin higher in a short squeeze scenario, a phenomenon where short sellers are forced to buy back their positions to limit losses, further driving up prices.
Market Still Favors Bitcoin Over Altcoins
Despite sideways price action, market indicators still show a clear preference for Bitcoin over altcoins. CoinMarketCap’s Altcoin Season Index is at 15 out of 100, which means it’s still “Bitcoin Season”.
CoinMarketcap’s Bitcoin Dominance Chart shows BTC’s market share at 63.0%. This confirms the ongoing capital consolidation around Bitcoin amid macro uncertainty and regulatory flux.
Sentiment Still Cautious Despite Bullish Signs
Despite these numbers, the overall sentiment in the crypto market is still cautious. The Crypto Fear & Greed Index is at 29/100 as of April 16, which means the market is in “Fear” territory.
Several market commentators have mixed feelings about Bitcoin’s trajectory. Some call the current price action “boring” while others see these consolidations as setups for a big move.
In a post on X (formerly Twitter), AnchorWatch CEO Rob Hamilton said:
“Bitcoin is flat for the day because we are in an epic tug of war between people who are selling Bitcoin to pay their taxes and people using their refunds to buy Bitcoin,” Hamilton wrote on April 15, the U.S. tax deadline.
Analysts Split on Near-Term BTC Outlook
Real Vision’s chief crypto analyst Jamie Coutts is more optimistic, telling Cointelegraph in late March that the market may be “underestimating how quickly Bitcoin could surge, potentially hitting new all-time highs before Q2 is out.”
On the other hand, other data shows that Bitcoin’s 30-day apparent demand is still sideways. As we reported recently, this trend often precedes extended consolidation periods where price remains range-bound after local bottoms.
Still, historical patterns and the return of Bitcoin bullish sentiment on major platforms like Binance suggest a directional move may be coming, especially if technical levels and sentiment indicators line up.
Conclusion: The Calm Before the Storm?
With Bitcoin just below a key level and the Binance Taker Buy Sell Ratio showing buying activity, market watchers are waiting for a turning point. While macro sentiment is fragile and price action is dull, the early signs of Bitcoin’s bullish sentiment are back and could be the catalyst for a bigger move in the coming weeks.
Whether this momentum continues or fizzes out will depend on Bitcoin’s ability to hold above technical levels and resist broader macro pressures. For now the bulls are whispering again, whether they roar depends on the next few days.
FAQs
What does the Binance Taker Buy Sell Ratio mean?
It’s the ratio of buy-initiated trades to sell-initiated trades on Binance. Above 1 means buyers are in control.
Why is $85,000 important for Bitcoin?
It’s a resistance level. If reclaimed, it could trigger a short squeeze of $637 million in short positions.
Is Bitcoin still above altcoins?
Yes. CoinMarketCap says it’s still “Bitcoin Season” and BTC dominance is 63%.
What does the Fear & Greed Index say?
It reads “Fear” which means the market is still cautious despite technical bullishness.
Can taxes impact Bitcoin price?
Yes. Some are selling Bitcoin to pay taxes and others are using refunds to buy, creating conflicting pressure.
Glossary
Bitcoin Bullish Sentiment: When traders expect BTC to rise, often indicated by buy volume > sell volume.
Short Squeeze: A rapid price increase that forces short sellers to cover, pushing prices higher.
Altcoin Season: When altcoins outperform Bitcoin.
Binance Taker Ratio: The balance between buy and sell orders on Binance.
Bitcoin Dominance: The percentage of the total crypto market cap of Bitcoin.
Sources
For advertising inquiries, please email . [email protected] or Telegram
