The on-chain metric can be used to identify the market’s most dominant participant (buyers or sellers) at a given time. A positive Net Taker Volume metric indicates that buying volume exceeds selling volume, while a negative value suggests that sellers are overwhelming the buyers in the Bitcoin derivatives market.
Darkfost wrote on X:
Beyond simply showing whether buying or selling pressure is dominant, it also reflects the prevailing sentiment among traders.
Referencing CryptoQuant data, Darkfost revealed that the Net Taker Volume — smoothed over a month to show the real trend — stands at around $145 million. As the on-chain analyst highlighted, this metric has remained positive for nearly two months (since March 7).
In what appears to be a fairly established pattern in this cycle, Darkfost noted that whenever the metric shifts from largely dominant selling pressure and extremely negative sentiment to renewed buying pressure from the bulls, the Bitcoin price has consistently reacted with an upside move. And this has been the case for the premier cryptocurrency since the first week in March.
Bitcoin Price At A GlanceAs of this writing, the price of BTC stands at around $77,508, reflecting no significant movement in the past 24 hours.
