The winds may be shifting in Bitcoin's favor as signs of bullish sentiment reemerge

The Binance Taker Buy Sell Ratio — a measure of buyer vs. seller dominance — has ticked back toward neutral

The wind may be shifting in Bitcoin’s favor as signs of bullish sentiment reemerge, particularly with a key volume metric on Binance, the world’s largest crypto exchange by trading volume, tipping back toward neutral.

The Binance Taker Buy Sell Ratio — a measure of buyer vs. seller dominance — has clocked in at 1.008, according to CryptoQuant contributor DarkFost. This brings the reading closer to balanced, suggesting that the bulls may be heating up once again.

The ratio, which is commonly followed by traders, indicates whether aggressive buyers or sellers are prevailing in futures markets. A reading above 1 usually implies that traders are opening more buy orders, which is often seen as a bullish signal. Conversely, numbers below 1 typically point to bearish momentum.

“The last few days have seen the ratio mostly positive, suggesting that bullish sentiment is picking up again on Binance’s derivatives market,” DarkFost said on April 15.

On April 14, when Bitcoin briefly topped $86,000, the ratio surged further to 1.1 — reflecting an influx of buy-side pressure.

At the time of writing, Bitcoin is trading at $83,810, down 1.47% over the past seven days, according to CoinMarketCap data. However, some market indicators hint at a brewing breakout if certain price levels are reclaimed.

$637M in Shorts at Risk If Bitcoin Breaks $85K

According to CoinGlass, a move back above $85,000 could trigger the liquidation of nearly $637 million in short positions — an event that could act as rocket fuel for further upside if bulls regain control.

Despite short-term price fluctuations, Bitcoin continues to dominate the broader crypto landscape. The Altcoin Season Index from CoinMarketCap stands at just 15 out of 100, highlighting that it’s still firmly “Bitcoin Season.” Meanwhile, Bitcoin’s dominance in the overall crypto market has climbed to 63.81%, up 9.88% since the start of 2025, according to TradingView.

However, not all signs are green. The Crypto Fear & Greed Index sits at 29 out of 100, reflecting a market still gripped by caution. The index, which gauges sentiment based on volatility, trading volume and social media activity, suggests that many investors remain on edge.

Some traders have even expressed frustration at the current price behavior. Analyst DeFiDaniel described Bitcoin’s recent movement as “so boring,” pointing to the choppy sideways action that has followed its local bottom.

As Cointelegraph previously reported, apparent demand for Bitcoin is starting to recover but hasn’t yet turned net positive. Historical trends show that after hitting a local bottom, Bitcoin often trades sideways for several weeks or even months before finding its next leg up.

Tax Season Adds a Twist to Bitcoin Price Tug-of-War

A unique factor that may be contributing to current price pressure is U.S. tax season. Rob Hamilton, CEO of AnchorWatch, posted on April 15 that Bitcoin's flat price action could be attributed to a battle between tax obligations and refunds.

“We are in an epic tug of war between people who are selling Bitcoin to pay their taxes and people using their refunds to buy Bitcoin,” he said.

With several analysts showing signs of division on what’s next for Bitcoin, some like Jamie Coutts, Chief Crypto Analyst at Real Vision, still see potential for an explosive move. In an interview with Cointelegraph in late March, Coutts said that the market might be underestimating how quickly Bitcoin could surge — potentially reaching new all-time highs before Q2 ends.