Binance News: Yearly High Net Taker Volume Amid Bitcoin Price Consolidation

In the latest cryptocurrency market update, Binance has reported a yearly high in net taker volume, while Bitcoin’s price consolidates just below the $84,000 mark. This indicates a broader slowdown in upward momentum, raising questions about the future direction of the market.

Net Taker Volume on Binance Hits Yearly High, Bitcoin Price Consolidates

Net taker volume on Binance has reached a yearly high while Bitcoin trades just below the $84,000 mark, indicating a broader slowdown in upward momentum. Bitcoin has remained under the $90,000 mark for over two weeks, nearly two months after touching its all-time high in January. This range-bound activity suggests a period of uncertainty as traders assess macroeconomic conditions and upcoming Federal Reserve policy decisions. On-chain data offers contrasting signals on market direction, with analysts pointing to fluctuations in buying and selling pressure on Binance as key indicators of short-term market sentiment.

Pi Network (PI) Surges 7.8% in 24 Hours

Pi Network (PI) surged 7.8% over the last 24 hours, bouncing from a low of $0.86 to reach an intraday high of $1.08. This rally followed weeks of downward pressure, suggesting a possible short-term bottom. Despite the bounce, Pi remains below the 50-period Exponential Moving Average (EMA) at $1.2213. Technical resistance is forming at $1.10, and a breakout above $1.1089 is needed to confirm bullish continuation. The next upside targets are $1.22 and $1.35. Failure to sustain momentum could lead the price back toward $0.86 or even lower to $0.64. Much of the recent volatility can be traced to Binance’s decision not to include Pi in its latest community vote, despite 86% of the vote favoring it.