Ethereum traders increasingly bullish as taker buy-sell ratio hits new high
Buy orders are returning to Ether's futures market, suggesting a correction in negative sentiment. However, with the coin's......
- Ethereum's taker buy-sell ratio on a 30-day SMA has reached its highest level since 23 June, indicating more buy volume than sell volume in the Futures market.
- The surge in ETH's taker buy-sell ratio since 10 September suggests a potential change in sentiment towards a more bullish stance, which could drive up the altcoin's value.
- However, the general market appears bearish, with a decline in profitable transactions involving ETH and a drop in the MVRV metric.
- The count of ETH holders who would log profit on their investments if they sold the coins has also decreased since the end of July.
The article highlights both positive and negative aspects of Ethereum's market conditions. The surge in ETH's taker buy-sell ratio suggests a positive sentiment, while the decline in profitable transactions and other metrics indicate a bearish sentiment.