Bitcoin: Taker Buy Volume metric over the last 2 months, there has been a significant decline in buyer interest despite price gains. This suggests that market momentum is weakening, and prices may correct before rising further.
Between December 9-16, on December 9, when the Bitcoin price was at 97,340, the Taker Buy Volume was 18,114,952. On December 16, when the price increased to 106,075, Taker Buy Volume decreased to 17,127,079, indicating weakening buyer interest despite the price increase.
A similar divergence was observed between December 23rd and 27th. On December 23, when the Bitcoin price was at 94,763, the Taker Buy Volume was 13,502,137. On December 27, although the price rose to 95,406, the Taker Buy Volume dropped to only 2,391,789. This suggests that interest on the buy side has diminished significantly, and price gains may not gain further momentum, but a correction is likely.
The negative divergence in both periods show a tendency to question the sustainability of price increases as buyer interest wanes. This suggests that the market may correct the current price levels and prices may return to a more stable level in the short term.
