Bitcoin In ‘Neutral’ Zone: What This Means, According To Analyst
Bitcoin, the crypto market leader and largest digital asset, currently trades at $58,877 following a rather negligent price movement in the last day. According to data from CoinMarketCap, the premier cryptocurrency saw more lows than highs in August, resulting in an 8.46% decline over the month. As September begins, a CryptoQuant analyst with the username Grizzly has provided valuable insight into Bitcoin’s current price status and potential price action in the coming weeks. Related Reading: Bitcoin Hash Price Hits New Low — Is It Time To Buy? Puell Multiple Index Puts Bitcoin In Decision....
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On-chain data shows the Bitcoin taker buy-sell ratio has rebounded back into the “hold” zone after touching the selling level. Bitcoin Taker Buy-Sell Ratio Observes Brief Uplift Recently As explained by an analyst in a CryptoQuant post, taker buy-sell ratio may have a hint about where BTC can head next. The “taker buy-sell ratio” is an indicator that measures the ratio between the Bitcoin buy volume and the sell volume. When the value of this metric is above one, it means the long volume is more than the sell volume at the moment. Such a trend suggests the sentiment....
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