Taker bid/ask ratio is a suitable indicator to evaluate sentiment in the derivatives market, and values ​​lower than 1 indicate that takers are executing more sell orders. This index had a massive increase in early 2013 (shown in green), with the price rising as high as $31,000 due to increased optimistic sentiment. Then the index started to decline and continued to fluctuate below 1 most of the time. Before the latest market crash in mid-August, the benchmark hit a 2023 low, after which Bitcoin briefly surpassed $25,000. Currently the market is bearish and we cannot wait for an upward trend to start before this changes.