Bitcoin prices have not shown any serious momentum so far in 2025, in addition to temporarily exceeding the $108,000 level in mid-January. On the contrary, flagship cryptocurrencies have been struggling with some serious fixes over the past few weeks.
In the recent pullback, BTC prices have halted significantly to $92,000 after President Donald Trump introduced new trade tariffs in Canada, Mexico and China earlier this week. Bitcoin prices quickly recovered to over $100,000, but have been struggling to maintain their bullish momentum ever since. Currently trading around $96,500.
HTX and Bitmex users load Bitcoin bags – What we know
Famous cryptography analyst Ali Martinez went to the X platform to share that certain central exchanges witnessed an increase in purchasing activity. This on-chain observation is based on a change in the “taker buy/sell ratio” and measures taker buy and taker sales volume to measure the sales of a particular asset (in this case Bitcoin).
To be clear, if the Taker purchases are greater than 1, the Taker purchases will be higher than the Taker sales volume. Typically, this scenario is considered bullish as it suggests the willingness of investors to pay a higher price for a particular cryptocurrency (Bitcoin).
In contrast, the less value of one taker’s buy/sell ratio indicates that more sellers are willing to let go of their assets at a lower price. This phenomenon means that sellers are overtaking buyers, indicating bearish investors’ feelings in certain crypto markets.
According to a Martinez post on X, Bitcoin Takers’ buying and selling ratios on HTX and Bitmex exchanges experienced a noticeable rise on Saturday, February 8th. Encrypted data shows that the metric has risen to around 5.7 on the BitMex platform. day.
Similarly, Bitcoin Taker’s buying and selling ratio reached 16 on the HTX exchange on Saturday, then collided with 0.4. Nevertheless, this on-chain data shows a surge in purchasing activity on centralized trading platforms.
Fresh buying activities in crypto exchanges can be bullish for the price of Bitcoin that doesn’t have the biting needed to maintain an upward movement. At the time of this writing, the best cryptocurrency is valued at around $96,700, and does not reflect any significant price changes over the past 24 hours.
Is it time to buy BTC?
In another post from X, Martinez suggested that there might be a time when investors will dabble in the BTC market. The rationale behind this proposal is based on how the crypto crowd feels at this point.
Recent chain data shows that crowd sentiment towards Bitcoin is currently negative. However, prices are known to move in the opposite direction of the crowd several times in the past.
