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

Odaily Planet News - CryptoQuant analyst DarkFost pointed out that Binance platform's BTC Taker Buy/Sell Ratio has rebounded to a neutral zone, currently at 1.008, indicating that buying power is regaining market dominance, with signs of bullish sentiment for BTC recovering. When Bitcoin was trading above $86,000 on April 14, the ratio once exceeded 1.1. Currently, BTC is priced at $83,810, down 1.47% in the past 7 days. If the price returns to $85,000, CoinGlass data shows nearly $637 million in short positions will face liquidation risk. BTC's market dominance has risen to 63.81%, increasing nearly 10% this year, and CoinMarketCap's Altcoin Season Index still indicates a "Bitcoin season". Despite overall market sentiment remaining cautious (fear index at 29), analysts generally believe BTC demand is in a recovery phase. Real Vision analyst Jamie Coutts thinks the market may be underestimating BTC's potential to reach new highs in the second quarter. AnchorWatch CEO Rob Hamilton suggests that current price volatility stems from the "tug-of-war between tax and tax refund funds in the market". (Cointelegraph)