Bitcoin bullish sentiment appears to be regaining strength on Binance, the largest cryptocurrency exchange by trading volume, with data showing that buyers are starting to dominate trading volumes. The Binance Taker Buy Sell Ratio, a key metric that indicates the proportion of buyers to sellers, has returned to a neutral position, currently at 1.008. A ratio above 1 signals bullish sentiment among traders. Recent trends indicate an increase in bullish activity, particularly in the derivatives market, with the ratio exceeding 1.1 when Bitcoin was priced above $86,000. However, Bitcoin is trading at $83,810, marking a decline of 1.47% over the past week. The market sentiment remains mixed, evidenced by the Crypto Fear & Greed Index scoring just 29, placing it in the 'Fear' category. Despite some analysts labeling Bitcoin’s recent price movement as boring, there are indications of rising demand, suggesting that Bitcoin may be on a recovery trajectory. The ongoing tension between tax-related selling and purchasing with tax refunds adds to the market dynamics as investors navigate this period of apparent indecision.

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