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The Bitcoin price is consolidating around $100,000 after days of experiencing price volatility. Amid the ongoing drawdown, analysts have spotlighted a key metric that has turned positive, potentially leading to a price reversal.
Bitcoin's Bid & Ask Ratio turns positive
Maartunn, a top analyst at CryptoQuant, noted that the Bitcoin Bid & Ask Ratio has flipped to +0.2. This is quite notable as it is the first green bar seen in months.
Typically, when the Bitcoin Bid & Ask Ratio turns positive, it suggests buy-side liquidity is accumulating the coin below the price. This is a signal of accumulation or strong buying interest.
The Bid & Ask Ratio is actually not a standard term. Rather, it refers to the bid-ask spread, which is the difference between the highest price a buyer is willing to pay (bid) and the lowest price a seller is willing to accept (ask).
Transactions take place when a buyer agrees to the ask price. Traders use the metric to calculate potential profit margins and assess the cost of executing trades.
However, the metric measures Bitcoin’s spot order books only within a tight price band around the current market price, typically 0-10% away.
The Bid & Ask Ratio ranges between -1 and +1. A positive reading means few asks, resulting in extreme buy pressure, while one fewer bid means strong sell pressure. However, if the metric reads zero, it is a perfect 50/50 balance.
Thus, a reading of +0.2 means bids outweigh asks by approximately 20% of the total liquidity in that near-price window. To put this in perspective in dollar terms, for every $100 of orders, approximately $60 are bids and about $40 are asks.
Implication for Bitcoin’s price
As Maartunn explained, buy walls are forming, meaning aggressive buyers are stacking limit orders below the current price to defend it.
For most of 2025, the Bitcoin spot books were mostly asks. That kept a lid on rallies and made every dip feel heavy.
However, big players, including whales, institutions and market-makers, are now reloading bids. These investors are not chasing the price up but defending lower levels, preparing to absorb any sell-off.
Considering their actions, Bitcoin investors and traders can expect upside acceleration above $110,000 in the short term.
If the ratio stays green for longer, Bitcoin will likely enter a new impulsive phase. Previously, analyst PlanB targeted prices as high as $130,000 in the long term.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team