In the Bitcoin market, with the opening of the US markets on March 4, a significant increase in buying market transactions was observed. According to CryptoQuant data, the purchase volume of $121.6 million, which occurred in a short period of one hour, was recorded as the highest sudden increase measured in the last two-day period. This movement occurred simultaneously with the rapid rise in Bitcoin price from $ 68,500 to above $ 71,000.
What Does Buy-Oriented Market Transactions Mean?
Buy-side market order volume means that limit orders on the sell side of the current order book are taken directly at the market price. Limit orders are passive transactions that wait for the specified price to be reached; Market orders, on the other hand, refer to active purchases made immediately at the best available price. Sudden jumps in buying volume indicate that market participants prefer to trade without waiting and the desire to take action increases. This situation is generally associated with the fact that large investors do not want to miss the price increase opportunity.
The CryptoQuant chart shows the buying volume on total exchanges in the period from March 3 to mid-March 4. During March 3, hourly buying volume fluctuated between $25 and $110 million, while the price remained flat between $66,500 and $68,500. There was no significant and permanent increase during this period.
Timing of Price and Volume Movements
With the opening of the US markets on March 4, the strong increase in purchasing volume attracted attention. The fact that the volume reached 121.6 million dollars means that investors stopped waiting and started buying quickly. Looking at the price movements, there is a slight increase from the low levels of March 3; The real acceleration comes with the start of the US session. During this period, Bitcoin price briefly crosses the $69,000, $70,000 and $72,000 levels within a few hours.
This simultaneous increase in volume and price suggests that institutional investors entered the market, especially with the New York opening. Although individual investors can trade in cryptocurrency markets at any time of the day, it is known that institutions generally concentrate their transactions during working hours. The fact that the sudden increase in volume coincides with the opening of the US market also supports this trend.
Towards noon on the same day, there is a second jump of approximately $150 million on the chart, representing the highest buying volume of the data set. This move coincides with Bitcoin’s rapid rise once again towards $72,700 levels. Two separate waves of aggressive buying appear to have occurred on March 4, both during US hours.
Contribution to Today’s Developments
In the first news of the day, agenda items such as former US President Donald Trump’s post on Truth Social, White House contacts with Coinbase and Morgan Stanley’s ETF application came to the fore. The increase in the buying market volume provides direct behavioral data, showing that buyers entered the market actively and with high amounts following this news.
Experts say that purchases made with limit orders generally indicate more patient and planned movements; However, he states that sudden market orders indicate that investors want to take positions urgently at current prices. Such buying transactions can intensify in a short time and strongly, pushing the price up rapidly.
The data does not directly show whether buyers between $69,000 and $72,000 on March 4 held their positions until the end of the day. However, it is clearly demonstrated that the aggressive and intense purchases in the US session gave the price a real and effective upward movement.
