Bitcoin Taker Ratio Hits 2018 Lows, Strong Sell Signal
New on-chain data from CryptoOnchain shows the 30-day moving average of the Bitcoin Taker Buy/Sell Ratio has plunged to its lowest level since May 2018, sliding below the critical 0.98 threshold that historically signals strong sell-off pressure. This sharp drop indicates that aggressive sell orders are now decisively outweighing buyer demand, pointing to a market leaning toward distribution rather than accumulation. Compared to November 2021—when Bitcoin last hit all-time highs—the current ratio is even weaker, suggesting elevated downside risk.
Bitcoin price is consolidating near $110,000–$111,000 after failing to break the $124,000 resistance zone. Both the 50-day and 100-day moving averages are trending downward, while the 200-day moving average at approximately $114,100 now acts as resistance. If $110,000 support holds, a relief bounce to $114,000–$116,000 may occur. However, a break below this level could trigger a deeper correction toward the next demand zone near $105,000.
Bearish
The collapse of the 30-day Bitcoin Taker Buy/Sell Ratio below the 0.98 threshold signals that sellers dominate the order book, mirroring conditions before past market corrections. Coupled with downward-sloping 50-day and 100-day moving averages and resistance at the 200-day average near $114,100, bulls face mounting challenges. Historically, similar ratio lows in 2018 preceded steep retracements. Unless buying demand swiftly recovers, the imbalance is likely to drive a short-term pullback toward $105,000 and could foreshadow a deeper downtrend, making the overall outlook bearish.