Why Binance Traders Are Extremely Bearish On Bitcoin? Details
The post Why Binance Traders Are Extremely Bearish On Bitcoin? Details appeared on BitcoinEthereumNews.com. Bitcoin traders on Binance showed strong signs of bearishness as July ended, with net taker volume dropping sharply. This shift came just before the U.S. Federal Reserve’s July 30th meeting as new labor data bumped market uncertainty. Meanwhile, Bitcoin’s outlook for August remains mixed, signaling broader trader caution. Traders on Binance are Turning Bearish Fast Bitcoin saw a major shift in trader behavior on Binance as net taker volume fell deep into negative territory. According to analyst Amr Taha from CryptoQuant, this change showed that many traders were either selling Bitcoin or opening short positions. It happened in the last week of July and pointed to growing fears about where Bitcoin might go next. Binance Net Taker Volume | Source: CryptoQuant It is important to add that the data showed net taker volume hitting a negative value of $80 million. That means more traders were selling than buying, and most were doing so with urgency. Taha explained that this pattern is often driven by small traders reacting to short-term price changes. Per the chart shared, Red clusters appeared during the selloffs on July 25 and July 29, marking clear pressure. Taha added that the drop likely came from rising concerns about broader economic issues. This is especially crucial as key U.S. data is being released and the Federal Reserve’s interest rate meeting minutes are coming up. Meanwhile, while smaller traders were selling, some large wallets acted differently. Whale Screener data from July 30 showed big deposits of USDT stablecoins and Bitcoin withdrawals. This often means large holders are preparing to buy or are already buying, possibly expecting a bounce in price. These opposite moves between whales and retail traders have created mixed signals for the Bitcoin price projections. Bitcoin Gets a Nod from Pompliano In a separate report, Bitcoin got…
The post Why Binance Traders Are Extremely Bearish On Bitcoin? Details appeared on BitcoinEthereumNews.com.
Bitcoin traders on Binance showed strong signs of bearishness as July ended, with net taker volume dropping sharply. This shift came just before the U.S. Federal Reserve’s July 30th meeting as new labor data bumped market uncertainty. Meanwhile, Bitcoin’s outlook for August remains mixed, signaling broader trader caution. Traders on Binance are Turning Bearish Fast Bitcoin saw a major shift in trader behavior on Binance as net taker volume fell deep into negative territory. According to analyst Amr Taha from CryptoQuant, this change showed that many traders were either selling Bitcoin or opening short positions. It happened in the last week of July and pointed to growing fears about where Bitcoin might go next. Binance Net Taker Volume | Source: CryptoQuant It is important to add that the data showed net taker volume hitting a negative value of $80 million. That means more traders were selling than buying, and most were doing so with urgency. Taha explained that this pattern is often driven by small traders reacting to short-term price changes. Per the chart shared, Red clusters appeared during the selloffs on July 25 and July 29, marking clear pressure. Taha added that the drop likely came from rising concerns about broader economic issues. This is especially crucial as key U.S. data is being released and the Federal Reserve’s interest rate meeting minutes are coming up. Meanwhile, while smaller traders were selling, some large wallets acted differently. Whale Screener data from July 30 showed big deposits of USDT stablecoins and Bitcoin withdrawals. This often means large holders are preparing to buy or are already buying, possibly expecting a bounce in price. These opposite moves between whales and retail traders have created mixed signals for the Bitcoin price projections. Bitcoin Gets a Nod from Pompliano In a separate report, Bitcoin got…
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