Analysis: BTC bullish sentiment has recovered, Binance buy/sell ratio has returned to neutral zone

CoinRank News: CryptoQuant analyst DarkFost pointed out that the BTC Taker Buy/Sell Ratio on the Binance platform has returned to the neutral zone, currently at 1.008, indicating that buyer power is re-dominant in the market and BTC bullish sentiment is showing signs of recovery. On April 14, when Bitcoin was trading above $86,000, the ratio once exceeded 1.1. Currently, BTC is trading at $83,810, down 1.47% in the past 7 days. If the price returns to $85,000, CoinGlass data shows that nearly $637 million of short orders will face liquidation risks. BTCs market share has risen to 63.81%, up nearly 10% this year, and CoinMarketCaps Altcoin Season Index shows that it is still Bitcoin season. Although the overall market sentiment is still cautious (the fear index is 29), analysts generally believe that BTC demand is in the recovery stage. Real Vision analyst Jamie Coutts believes that the market may underestimate the possibility of BTC hitting a new high in the second quarter. AnchorWatch CEO Rob Hamilton said that the current price volatility is due to the tug-of-war between tax and tax refund funds in the market. (Cointelegraph)