Darkfost
Is buying pressure from Binance traders coming back ?
Yesterday evening, the net taker volume on Binance surged by $467M, the highest hourly level of the year. The net taker volume is a powerful metric for gauging trader sentiment, as it measures the volume of market buys and sells in the order book. - A positive value indicates stronger buying pressure than selling. - A negative value signals higher selling pressure than buying. As Binance is the CeX with the highest trading volume, it makes it particularly relevant for data analysis. This could indicate improving sentiment and growing confidence in the market among Binance traders in the very short term, which gives, at the same time, an idea of the prevailing sentiment among all investors. Interestingly, this spike happened just before the FOMC meeting. It is important to notice that this is an hourly timeframe, and it is not an exceptional long-term level.