Bitcoin Steady at $116K as On-Chain Data Hints at Renewed Rally
Bitcoin’s climb to $116,000 has marked one of its strongest stretches in weeks, prompting fresh debate about whether the market is laying the groundwork for another breakout.
While price action has cooled heading into the weekend, analysts see encouraging signs beneath the surface.
Binance metrics show buyer dominance
A key indicator drawing attention is Binance’s Taker Buy-Sell Ratio, which measures whether traders are more inclined to execute aggressive buys or sells. According to data highlighted by analyst Burak Kesmeci, the ratio has stayed above 1.0 since September 10, hovering near 1.04 in recent sessions.
When the figure sits above 1, it implies that buyers are willing to pay higher prices to secure positions – a sign of underlying demand. This year, local tops have generally coincided with readings closer to 1.15, suggesting there’s still room for upside before conditions risk becoming overheated.
Confidence shifts back to accumulation
The consistency of the positive ratio is being read as evidence of renewed trader confidence. Rather than rushing to lock in profits, market participants appear to be accumulating even at higher levels, a pattern often associated with momentum-driven rallies.
This dovetails with broader market observations. Analysts note that whales have resumed accumulation while exchange reserves continue to decline, pointing to tighter supply conditions that could magnify price moves if demand persists.
Setting the stage for Q4
Historically, the final quarter of the year has brought some of crypto’s most volatile and active periods. With Bitcoin consolidating near $116K and sentiment tilting more bullish, traders are watching closely to see if this setup becomes the springboard for testing resistance levels not seen since early summer.
For now, Bitcoin remains in consolidation mode – but on-chain signals suggest momentum may be quietly building for the next move.
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