On April 3, the world witnessed a remarkable event in the crypto market. US President Donald Trump imposed fresh trade tariffs on goods from numerous countries, with Asian nations being particularly hard hit. This led to a negative reaction in the US financial markets, but surprisingly, the Bitcoin and overall crypto markets remain resilient amidst this global economic turmoil.
Bitcoin’s fluctuating price has been a topic of discussion among market players and speculators. CoinGecko’s data shows hardly any substantial price movement for Bitcoin in the past week. That said, this doesn’t paint the full picture as the leading cryptocurrency made a brief run for the $87,000 mark on April 2, only to recede to approximately $84,000 soon after.
Despite the underperformance of the US equities market over the past couple of days, Bitcoin seems to show signs of decorrelation from traditional markets. As it stands, Bitcoin is currently priced around $84,000, demonstrating over a 2% increase in the past 24 hours. With the weekend approaching, this could be a promising indicator of things to come.
Crypto analyst Maartunn, in a recent post on the X platform, suggests that Bitcoin bulls may be stirring. His prediction is based on the Taker Buy Volume, a metric that quantifies the total volume of buy orders filled by takers in perpetual swaps for a particular cryptocurrency. In the context of crypto trading, a “taker” is a market player who executes an order that matches with an existing one on the order book.
Maartunn points out that the Bitcoin Taker Buy Volume on all centralized exchanges recently crossed a significant threshold, reaching around 101.18 million BTC. Historical data shows that such increases in the Taker Buy Volume have often signaled a bullish surge in Bitcoin’s price. Therefore, Maartunn advises keeping a close eye on Bitcoin’s price action in the coming days.
