4 weeks ago
4
Key Takeaways
- BTC gained 1.5% in 24 hours to $63,800, holding its June range.
- The 90-day Spot Taker CVD turned neutral in early June after a buy-dominant May.
- The current ~50% drawdown compares with 78% in 2022 and 84% in 2018.
What the Spot Tape Actually Shows
Spot Taker CVD measures the balance between aggressive buyers and aggressive sellers, the traders willing to pay the market price to get filled immediately rather than waiting with a passive order. When the indicator runs green, real spot demand is pushing price. When it runs red, sellers are hitting bids. CryptoQuant’s 90-day view shows Bitcoin’s tape was solidly green from late April through May, the stretch when price pushed above $80,000. Since early June, it has been neutral, and it has stayed neutral into July.
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