The return of Ethereum (ETH) above the $1,800 mark was accompanied by a sharp surge of aggressive buying on the Binance exchange. According to CryptoQuant analyst Amr Taha, the ETH Taker Buy Volume metric, which reflects the volume of market buy orders, exceeded $1 billion within a single hourly interval.
This is the highest hourly figure since June 5, when Ethereum was trading around $1,605. The analyst considers the current surge more significant, since it coincided with the breakout above $1,800 — the first major return to this level after the drop to the June 6 low near $1,510.
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What the surge in buying tells us
According to data for June 15, in just six hours the combined Binance Total Taker Buy Volume metric reached around $2.8 billion, with more than $1 billion of that amount coming in just one hour. In Amr Taha’s opinion, this indicates that the move above $1,800 was driven not only by price dynamics, but also by a concentrated wave of market buy orders.
The key point the analyst highlighted is the timing. Earlier this month a similar volume of aggressive buying appeared while ETH was still trading at lower levels around $1,605. This time the same activity came when the price of Ethereum was breaking through an important psychological and technical threshold.
A sustained hold above $1,800, according to Amr Taha, would mean that aggressive buyers are ready to push the price higher after the recovery from $1,510. However, if the development of the move weakens, the hourly surge of $1 billion may turn out to be merely a short-term burst of liquidity rather than the start of a broader trend. For now, the order-flow data on Binance shows that the breakout above $1,800 was backed by one of the strongest hourly waves of aggressive buying in the past ten days.
Source: BeInCrypto
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