Bullish Winds Stir as Binance Data Signals Renewed Bitcoin Momentum

Bullish Winds Stir as Binance Data Signals Renewed Bitcoin Momentum

Bitcoin could be on the verge of reclaiming its bullish trajectory, as a key metric from Binance—the world’s leading crypto exchange by trading volume—suggests that buyers are beginning to outpace sellers on the platform.

According to CryptoQuant contributor DarkFost, the Binance Taker Buy Sell Ratio, which tracks the balance between buyers and sellers of Bitcoin, has “returned to neutral territory.” The ratio, now sitting at 1.008, signals a slight tilt in favor of buyers. A ratio above 1 typically reflects a bullish market sentiment, whereas values below 1 suggest bearish dominance.

This uptick in momentum comes as BTC is currently trading at $83,810, down 1.47% over the past week, according to CoinMarketCap. “Over the past few days, the ratio has remained mostly positive, indicating that bullish sentiment is making a comeback in Binance’s derivatives market,” DarkFost noted. On April 14, when Bitcoin briefly surpassed $86,000, the ratio spiked above 1.1.

Additional market signals further support this cautious optimism. Data from CoinGlass indicates that if Bitcoin breaks above the $85,000 threshold again, nearly $637 million in short positions could face liquidation. Meanwhile, CoinMarketCap’s Altcoin Season Index stands at just 15 out of 100, reinforcing that it’s still firmly “Bitcoin Season.”

BTC market dominance has also been on the rise, reaching 63.81%—a 9.82% increase since the beginning of the year, per TradingView charts. Yet, the broader sentiment among crypto investors remains cautious. The Crypto Fear & Greed Index posted a reading of 29/100 on April 16, placing the market squarely in the “Fear” zone.

Some analysts, including DeFiDaniel, have remarked that Bitcoin’s price movements have been “painfully boring” of late. However, Cointelegraph reports that apparent demand for Bitcoin is recovering, although it hasn’t turned net positive yet. Historically, Bitcoin’s 30-day demand can stagnate following a local bottom, often resulting in choppy sideways price action.

The road ahead remains uncertain, with analysts offering mixed forecasts. Real Vision’s chief crypto analyst Jamie Coutts suggested in late March that the market might be underestimating BTC’s potential to rally, possibly setting new all-time highs before the end of Q2. Meanwhile, AnchorWatch CEO Rob Hamilton noted in an April 15 post on X that Bitcoin’s flat performance could be due to a “tug of war” between investors selling to cover taxes and those using tax refunds to buy in.

As Bitcoin dances around key levels, the tug between fear and optimism continues to shape the narrative for what’s next.