BTC could rebound in ‘coming days’ as metric signals growing buy pressure
Bitcoin may be due for a strong price rebound in the coming days with immediate spot buyer demand rising on crypto exchange Binance.
A widely used trading metric that tracks buyer demand on crypto exchange Binance is signaling that Bitcoin may retest the psychological $100,000 price level before the year’s end, according to an analyst.
Since Oct. 28, Binance Bitcoin (BTC) Taker Buy Volume — the total volume of buy transactions executed by “takers” on an exchange — has formed higher lows, according to CryptoQuant contributor Burrakesmeci in a Dec. 27 analyst note.
Bitcoin has been lagging as it approaches the final days of 2024. At the time of publication, Bitcoin was trading at $96,222, according to CoinMarketCap data.
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Author: Ciaran Lyons
