Recent activity on cryptocurrency exchange Bybit shows investors aggressively accumulating Bitcoin, with a taker buy-sell ratio of 11.14 indicating pronounced buyer dominance. This metric suggests robust bullish sentiment and potential price growth, despite prevailing market volatility, as traders position themselves ahead of anticipated gains.
Bitcoin’s price currently hovers near $114,907, reflecting a 0.47% uptick over the past 24 hours. The asset briefly peaked at $115,729 before undergoing a minor correction. Concurrently, trading volume surged 15.11% to $57.13 billion, signaling heightened investor optimism and potential momentum to challenge Bitcoin’s all-time high of $123,091.
Market experts recommend adopting a long-term holding strategy over short-term trades, emphasizing the value of accumulating Bitcoin during market dips. The substantial buying pressure and increased trading volume on Bybit reinforce a positive outlook for Bitcoin’s near-term trajectory.