Bitcoin News: Bitcoin Bulls Return as Binance Taker Ratio Flips to Neutral, Eyeing $85K Breakout
Bitcoin (BTC) appears to be regaining bullish momentum as a key trading metric from Binance shows buyer dominance is returning to the world’s largest crypto exchange. The shift could pave the way for a break above the $85,000 resistance, potentially triggering nearly $637 million in short liquidations, according to CoinGlass.Binance Taker Ratio Turns Neutral, Signaling Bullish SentimentAccording to an April 15 update from CryptoQuant analyst DarkFost, the Binance Taker Buy Sell Ratio for Bitcoin has flipped to neutral, standing at 1.008. This key indicator measures the ratio of aggressive buyer volume versus aggressive seller volume in Binance’s derivatives market:A value above 1 implies bullish dominance.A value below 1 suggests bearish pressure.“Over the past few days, the ratio has remained mostly positive,” said DarkFost. “This suggests that bullish sentiment is picking up again, especially as BTC stabilizes near key price levels.”On April 14, when Bitcoin briefly surged above $86,000, the ratio peaked at 1.1, further supporting bullish momentum.$85K Liquidation Wall Could Trigger Short SqueezeShould Bitcoin reclaim the $85,000 mark, CoinGlass data shows $637 million in short positions would be at risk of liquidation. This scenario could lead to a short squeeze, accelerating BTC's price upward.As of now, Bitcoin is trading at $83,810, down 1.47% over the past week, per CoinMarketCap.BTC Remains in Control as Altcoin Activity WeakensMultiple indicators show Bitcoin continues to outperform altcoins:Altcoin Season Index: Currently at 15/100, signaling strong Bitcoin dominance.BTC Market Share: According to TradingView, BTC's dominance sits at 63.81%, up 9.82% year-to-date.Meanwhile, the Crypto Fear & Greed Index remains in “Fear” territory, with a score of 29/100, suggesting market participants remain cautious despite the price rebound.Analysts: BTC Faces Tax-Related Volatility, But Macro Picture Is BullishSome analysts see current price action as range-bound, but long-term sentiment remains optimistic:AnchorWatch CEO Rob Hamilton noted that BTC is flat due to “a tug-of-war between sellers paying taxes and buyers using refunds,” referencing the U.S. tax deadline on April 15.Real Vision's Jamie Coutts previously predicted that BTC could reach new all-time highs before the end of Q2, citing macroeconomic catalysts.What to Watch Next:$85K breakout: Will bulls reclaim the level and trigger a liquidation cascade?Binance Taker Ratio: Continued dominance by buyers could signal sustained bullish sentiment.CPI and Fed policy shifts: Macroeconomic catalysts could further influence BTC direction.As bullish sentiment creeps back into the market, Bitcoin traders are watching the $85K level closely. A breakout could ignite the next leg up—if buyers continue to lead the charge, according to Cointelegraph.
