Binance Bitcoin (BTC) Taker Ratio Hits 0.85, Lowest in Over a Year

Binance Taker Ratio Sinks to 0.85

Bitcoin (BTC) price was trading near $68,700 on Friday, down about 6.5% over the past 24 hours, and the derivatives tape behind the drop has turned heavily one-sided. The taker buy/sell ratio on Binance's Bitcoin (BTC) futures market fell to 0.85, its lowest reading in more than a year, and the monthly average slid to 0.97, the weakest since February 2026. The metric divides aggressively filled buy orders by aggressively filled sell orders, so any print below 1 means sell executions outmatched buys over the measured window; at 0.85, every 100 units of sell volume met only about 85 units of active buying.

The reading lands in a market already stretched. Bitcoin had dropped 17.5% from its recent peak near $87,400 before the latest leg lower, and Darkfost, the derivatives analyst who has followed the drawdown, notes that corrections of this size have been common inside earlier uptrends. What stands out to him is how deep pessimism among futures traders has run in recent days. In his view, bearishness this intense tends to cluster in the final phase of a decline: once sell panic is largely priced in, the same gauge can flip into a contrarian signal for a short-term rebound. The daily print and the depressed monthly average describe the same drift, with sellers setting the pace of trading for weeks.

The measure has limits worth keeping in view. It tracks fill direction on Binance's derivatives market only, excludes spot flows and regional exchange order books, and by itself cannot settle whether a bounce follows. Even so, a year-long extreme in sell-side pressure is a rare print. The last time the monthly figure sat this low, Bitcoin (BTC) was breaking under $60,000 in February.

Bitcoin ETFs Hold the Inflow Lead

Where the money sits is just as telling. Cumulative net inflows into US spot Bitcoin ETFs stood at $55.13 billion as of November 12, roughly five times the $11.61 billion drawn by Ethereum funds. First-year numbers widen the gap: Bitcoin's ETFs took in $36.22 billion in their debut year, against $1.8 billion for XRP funds, $1.51 billion for Solana, $116.4 million for Hedera, $16.6 million for Litecoin and $15.1 million for Dogecoin.

Performance since launch has rewarded that split. Ethereum traded near $1,931 on November 13, about 42% below the $3,340 it touched when US spot Ethereum ETFs opened on July 23, 2024, and Solana's slide to $79 leaves it more than 60% under the $199 it started from when its ETF began trading on October 28, 2025. Hedera has lost 66%, XRP 58%, Dogecoin 56%, Litecoin 51% and Chainlink 27% from their own ETF debut prices. Bitcoin (BTC), by contrast, sits about 48% above the $46,300 mark from its ETF's first trading day, even after a 45.5% pullback from its $126,000 record.

Yoon Seung-sik, director at Tiger Research, ties thin altcoin demand to a knowledge gap: investors understand Bitcoin and Ethereum far better than the smaller projects behind the new funds, and valuing those tokens gets harder in an uncertain economy. The split also reflects a thesis long known as Bitcoin Maximalism, which holds that the fixed 21 million supply and proof-of-work design make Bitcoin the cleanest institutional holding, which is why managers have concentrated exposure in Bitcoin and, to a lesser degree, Ethereum. BlackRock said in August 2025 that client demand was too limited to justify a spot XRP or Solana fund, and Bloomberg's Eric Balchunas has argued the asset manager has no strong reason to file for a new crypto ETF yet. Block Scholes adds that weak conditions and low participation have capped the launches' impact so far. Yoon's counterpoint: a recovery could still carry traditional capital into altcoin funds, but until demand spreads beyond a handful of names, a broad rally looks out of reach. That caution echoes our recent tally, which found US spot crypto ETFs had shed $1.48 billion in five days.

The $72,000 Test for the Rebound Case

Our composite support and resistance scoring frames the near-term path for that rebound call. The strongest resistance sits at $72,018, where several trend and pivot indicators converge for a score of 95/100, while the best-supported floor is $65,079 at 73/100; spot was holding near $68,714 at the time of writing. Momentum agrees with the pessimism in the ratio: the RSI reads 24.9, MACD is bearish and the trend label is a downtrend, while sentiment sits at 20/100 on the Fear and Greed Index, deep in extreme fear. Positioning is messier than the sell pressure suggests: perpetual funding is only slightly negative at -0.0034%, and a long/short account ratio of 3.88 shows most accounts still leaning long. A reclaim of the $72,000 line would give Darkfost's contrarian case its first confirmation; losing $65,000 would hand the argument back to the sellers. The full level map is updated in our Bitcoin technical analysis.