Bitcoin Bullish Sentiment Surges on Binance, Price Up 8%

Bitcoin bulls have been actively positioning themselves on the Binance platform, as indicated by recent data. The Net Taker Volume, a key metric that measures the difference between taker buyer and taker seller volume on centralized exchanges, has shown a highly positive trend. This suggests that taker buyers are dominating the platform, implying a bullish sentiment among the majority of users.

According to a community analyst, the 7-hour moving average (MA) Bitcoin Net Taker Volume on Binance has remained predominantly in the positive territory since April 11th. This positive trend indicates that futures users have been placing aggressive bullish bets on the platform. The shift towards a positive sentiment on the exchange coincides with Bitcoin's recovery following the news of a 90-day pause on tariffs for most countries.

Historically, Bitcoin has often moved in the direction that the crowd least expects. Therefore, the current bullish mood could potentially be a negative sign for the ongoing recovery rally. It remains to be seen whether this trend will lead to a top or if the bets of these investors will pay off.

In addition to the bullish positioning on Binance, the 30-day Bitcoin Market Value to Realized Value (MVRV) Ratio has hit its lowest level in six months. This ratio is an indicator of the profit-loss status of Bitcoin investors. The recent decline in the 30-day value of this metric suggests that holder profitability has decreased. However, similar levels were reached at two points last year, and in both instances, Bitcoin formed a bottom. This historical pattern suggests that the current trend could once again prove to be bullish for the cryptocurrency.

At the time of writing, Bitcoin is trading around $85,800, marking an increase of more than 8% in the last seven days. The price of the coin has been rising in recent days, reflecting the bullish sentiment among investors.