It looked sharp on the chart, but the Binance taker sell/reserve ratio tells a different story.
Compare that with February and June, we saw much sharper spikes in the ratio.
The current ratio is still holding within the same range, even with BTC trading above $80K.
So far, the dump hasn't triggered the same relative selling pressure we saw in those previous moves.
Not saying this is bullish, but the selling pressure looks less aggressive compared with February and June.

Written by nocoffeenobrain
