Bitcoin (BTC) is maintaining stability near 84,429 dollars, just below the key resistance level of 85,500 dollars. The overall market appears calm, but interesting changes are happening beneath the surface. Binance traders are quietly shifting their psychology.
According to Crypto News on the 17th (local time), the latest data shows that Binance's taker buy/sell ratio has turned positive at 1.008. This means more buyers are entering the market than active sellers, which often signals an unexpected breakout for many retail traders.
The taker buy/sell ratio measures the aggressiveness of buyers and sellers in real-time. A value above 1 signals bullish momentum, and the current ratio is at 1.008.
When Bitcoin was trading above 86,000 dollars earlier this month, this ratio exceeded 1.1. Therefore, the current upward trend could signal potential further increases.
- Binance taker ratio: 1.008 (bullish conversion)
- Derivatives sentiment turning positive
Breaking above 85,000 dollars could trigger large short position liquidations. According to CoinGlass data, if BTC breaks this key level, approximately 637 million dollars in short positions could be liquidated, which could drive a sharp price increase.
Meanwhile, Bitcoin's market dominance continues to rise. According to TradingView, BTC's market dominance is 63.81%, having increased nearly 10% since the beginning of the year. With the altcoin season index at just 15 out of 100, it remains a "Bitcoin season".
- Short squeeze potential: 637 million dollars in liquidations
- BTC dominance: 63.81%, up 9.82% since the start of the year
- Altcoin season index: 15/100 — Not yet an altcoin season
Despite bullish on-chain and technical indicators, overall market sentiment remains cautious. The cryptocurrency fear and greed index is at 29, firmly in the "fear" zone.
Some analysts argue that this skeptical view is obscuring Bitcoin's potential breakout. Jamie Coutts from Real Vision suggests BTC could rise and test new all-time highs by the end of the second quarter.
Others point to tax-related cash flows. Selling for obligation fulfillment and buying from refunds are keeping the price stable.
BTC is also gaining momentum from macro trends. The US dollar continues to show weakness amid trade tensions related to tariffs.
With Donald Trump reintroducing sharp tariffs on Chinese goods and the dollar showing weakness, Bitcoin is increasingly viewed as a hedge against inflation and currency risk.
Simultaneously, the April 15th US tax filing deadline is affecting cash flows, with some traders selling to meet obligations while others are entering the market using refunds.
- Bitcoin price may stagnate due to tax-related selling and refund purchases.
- Weakening US dollar elevates Bitcoin as an inflation hedge.
- Geopolitical tensions like US tariffs on China contribute to dollar decline, which works favorably for Bitcoin.
Technically, Bitcoin is supported by an ascending trend line and 50-period exponential moving average (EMA) on the 2-hour chart. The 83,800 dollar support level is firmly maintained, and the RSI has rebounded to 51.8. This indicates buyers still have room to push the price higher.
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