MorenoDV_2026-09-29

Binance’s Buying Pressure Returns to 2020 Levels

On Binance, the 200-day SMA of the Taker Buy/Sell Ratio has risen from roughly 0.973 in February to 1.012. It has moved from a sell-led regime to one in which taker buys have held a slight edge over taker sells across a long window. The speed of that reversal stands out: the average is approaching its summer 2020 high and has surpassed the level reached during the 2022–23 recovery. This metric compares liquidity-taking buys with liquidity-taking sells in perpetual futures. The reading of 1.012 does not imply an overwhelming buying imbalance. Its significance lies in persistence: a 200-day average takes time to cross and climb above 1. It also reacts slowly when conditions change. Today’s elevated average cannot tell us whether buyers still dominate the latest sessions. The historical parallels are constructive, but limited. In 2020, the move into this zone preceded a much larger price advance; in early 2023, rising taker demand accompanied Bitcoin’s recovery. Both episodes suggest that a shift in trading urgency can form part of a broader regime change. Neither makes the ratio a standalone trigger for the next leg higher.