Binance Spot Volume Faces Positive Buy-Sell Imbalance, Is Demand for Bitcoin Rising?

The Binance spot volume shows ongoing surge in comparison with its core rivals, a trend that signals potential uptick for Bitcoin
By Godfrey Benjamin
Binance Spot Volume Faces Positive Buy-Sell Imbalance, Is Demand for Bitcoin Rising

Highlights

  • Binance has recorded a positive shift in its Cumulative Volume Delta outlook
  • The trading platform has outshone core rivals like OKX in this metric
  • The price of Bitcoin may see a shift if current adoption trend is sustained

The Binance spot market data shows that buyers are finally outpacing sellers for the first time in months. Notably, the shift is catching attention across the crypto market as Bitcoin holds strong above key price levels. As the biggest trading platform, the change in volume might have a major impact on the outlook of Bitcoin and the altcoin. 

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The Binance CVD Analysis

Data from CryptoQuant disclosed that the Cumulative Volume Delta (CVD) of crypto exchange Binance has been trending upward since Bitcoin dropped to around $75,000. According to the update, this metric tracks the net difference between buying and selling orders. 

Analyst Joao Wedson shared charts showing that while the Binance CVD has turned positive, other exchanges like OKX, Bybit, HTX Global, BitMEX, and Deribit still show declines.

It is worth noting that this marks a break from the pattern seen since 2021, when positive growth on Binance had been rare. Based on the current market outlook, the rise in CVD aligns with the Bitcoin price surge toward $94,000 by late April. 

Joao Wedson also emphasized that a rising CVD shows more substantial buying pressure and growing confidence among traders. He advised monitoring this trend closely as it offers valuable insights into risk appetite on the exchange.

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Is Demand Rising for Bitcoin?

Beyond Binance, several other signs suggest that demand for the largest digital asset, Bitcoin, is gaining momentum. 

According to CoinShares, digital asset investment products from top asset management companies recorded $3.4 billion in inflows over the past week. 

CoinGape reported that BTC inflow topped $3 billion. Ethereum also posted inflows of $183 million after weeks of outflows. If anything, this shows a renewed interest of investors in acquiring and trading major cryptocurrencies.

Reports indicate that corporate interest in Bitcoin is heating up. Strategy Inc’s recent purchase of 15,355 Bitcoin for $1.42 billion further signals strong institutional demand. Whales have also been active, with a major buyer acquiring $110 million of Bitcoin and Ethereum via over-the-counter transactions.

Drawing on these trends, Presto executive Peter Chung reaffirmed a $210,000 Bitcoin price target for 2025. The forecast highlights institutional adoption and global liquidity growth as key drivers.

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Key Market Trends to Watch

While Bitcoin might be the biggest asset in the spotlight, other key market trends could also shape the overall health of the industry. The demand for SEC approvals of digital asset ETFs remains on the agenda. Recently, the SEC approved the first XRP futures-based ETF with sizable volume scored in 30 minutes. 

Also, beyond Binance, market data shows that Bitcoin whales and sharks are active, while bullish on-chain metrics further support the positive outlook. 

CoinMarketCap data shows that Bitcoin’s price was trading at around $94,011.77 as of this writing. It has inked a 1.16% growth in the last 24 hours, and trading volume has also risen 71.62% over the same period. The confluence of metrics suggests more uptick is likely.

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Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
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