Bitcoin Price In Trouble As Sell-Side Momentum Spikes — $92,000 Next?

The Bitcoin price has ostensibly continued down in its bearish direction, which started in the second week of October. After slipping beneath the psychological $100,000 support, worries have surfaced among Bitcoin market participants regarding the broader market structure. Interestingly, the latest on-chain evaluation justifies this worry, as the downside bias for the Bitcoin price seems to be on the rise. Binance Taker Imbalance Falls Into Negative Territory In a Quicktake post on the CryptoQuant platform, on-chain research firm Arab Chain revealed an increase in sell-side momentum for Bitcoin on Binance, the world’s largest exchange by trading volume. This revelation revolves around the BTC Taker Imbalance % metric, which tracks whether the market is dominated by aggressive buyers or sellers. Narrowing it down, this metric offers insights into taker activity on Binance. Related Reading: Bitcoin Moves Beyond Retail — Institutional Ownership Now Defines The Market Because the metric works by revealing...

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