A CryptoQuant analyst believes a significant pullback for Bitcoin could be inevitable based on the net taker volume indicator data.
Bitcoin Net Taker Volume Has Plunged Into Negative Zone Recently
As CryptoQuant Netherlands community manager Maartunn explained in a post on X, the BTC net taker volume has recently turned red. The “net taker volume” refers to a metric that keeps track of the difference between the taker buy and taker sell volumes of Bitcoin on the futures market.
When the value of this metric is positive, it means that the taker buy volume exceeds the taker sell volume right now. Such a trend implies a bullish mentality is dominant among the investors currently.
On the other hand, negative values suggest the majority shares a bearish sentiment, as the selling pressure in the sector appears to be higher at the moment.
Now, here is a chart that shows the trend in the 30-day moving average (MA) Bitcoin net taker volume over the past couple of years:
As displayed in the
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