• Bitcoin’s buying pressure surged, with BitMEX showing a Taker Buy Sell Ratio of 5.7. 
• BTC eyed the $98,667 resistance level, which could determine the king coin’s road ahead.

Bitcoin [BTC] is witnessing a surge in buying activity, signaling a renewed interest in the market. Data from major exchanges such as HTX Global and BitMEX indicated that demand for BTC rose rapidly.

This uptick in the Taker Buy Sell Ratio suggested a shift in market sentiment, with buyers beginning to dominate.

As Bitcoin attempts to reclaim key resistance levels, traders are closely watching whether this momentum can sustain a bullish breakout.

Buying activity rises across key exchanges

Bitcoin’s buying pressure has spiked significantly, with data from HTX Global and BitMEX showing a surge in the Taker Buy Sell Ratio.

This metric tracks the ratio of buy orders to sell orders, and a higher value indicates increased demand.

The latest charts reveal that HTX Global recorded a ratio of 0.4, while BitMEX saw a much higher figure of 5.7, signaling strong buyer dominance on derivatives markets.

THIS shows bullish momentum

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Author: Adewale Olarinde