Analyzing Buyer Momentum from SVD Data Below is the 24-hour average SVD (Spot Volume Delta) data for Binance and Coinbase, which represents the taker volume delta. A positive value indicates buyer dominance, while a negative value indicates seller dominance. Looking at the data, Coinbase has maintained a positive SVD since the market rally began on August 19, but the three peaks I’ve highlighted are decreasing in magnitude. This reflects a gradual weakening of active buying strength, which is a classic case of volume-price divergence. Similarly, Binance also shows declining peaks, and after August 26, the overall SVD turned negative, marking the strongest seller dominance of the entire month. This can be interpreted on two levels: Seller dominance without a price drop might be supported by passive orders or ETF primary market activity, which doesn’t show up in taker data. If the selling pressure gradually diminishes, it essentially represents a transfer of tokens from short-term profit-takers to demand-side buyers, which is part of a digestion process. It’s clear that market sentiment has shifted from the full-on buying frenzy around August 20 to a phase of high-level divergence, with upward momentum entering a weakening phase. Judging by active buying alone, it seems challenging to push prices significantly higher under the current conditions. For a second wave of upward momentum, we’d need to see selling pressure fully absorbed or an external catalyst to reignite market sentiment. #Crypto #Binance #Coinbase #SVD #MarketAnalysis