Bitcoin Order Book Imbalance Hits New Low Since May 2018, If the Trend Continues, It May Lead to a Significant Market Correction
BlockBeats News, August 27th, Cryptocurrency market analysis firm CryptoOnchain posted on social media that the 30-day moving average of Bitcoin's Taker Buy/Sell Ratio has dropped to the lowest level since May 2018, even lower than the bear market bottom in November 2021.
This indicates that with the weakening buying momentum, the market is experiencing significant selling pressure, suggesting a potential short-term price decline. Despite the rise in Bitcoin's price, the continued downward trend of this ratio indicates that the growth is unsustainable. If this trend persists, we may see a significant market correction or a prolonged downward trend in prices.
You may also like
Gainers
Latest Crypto News
Placeholder Partner: High-Quality Crypto Assets Could See a "Hundredfold Return" Opportunity Similar to US Stock Tech Giants in the Coming Decades
Shitcoin Season Index remains at a low level, currently standing at 22
Vitalik Calls for Zcash to Resist Token Voting Mechanism
PIPPIN Market Cap Surpasses $120 Million, Up Over 60% in the Last 24 Hours
Arthur Hayes: Maybe Monad Could Be the First to Fully Unlock Tokens and Challenge Ethereum and Solana
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:[email protected]
VIP Services:[email protected]