While the price on ARB fell by 8.6%, spot activity accelerated in the opposite direction: despite volume rising by 174.9%, 60.9% of taker trades were on the buy side.
This picture shows that buyers entered the market, but sales met that flow and pushed the price down. Therefore, rising volume alone is not a strong confirmation of demand; buyer flow is not affecting price for now.
The key point to watch here is whether the ARB price will stabilize while taker buy dominance is maintained. If the price continues to fall, the scenario that current buying is being absorbed and selling pressure is outweighing it may strengthen.
This picture shows that buyers entered the market, but sales met that flow and pushed the price down. Therefore, rising volume alone is not a strong confirmation of demand; buyer flow is not affecting price for now.
The key point to watch here is whether the ARB price will stabilize while taker buy dominance is maintained. If the price continues to fall, the scenario that current buying is being absorbed and selling pressure is outweighing it may strengthen.