According to Skew Δ, the current underlying bid for Bitcoin is passive and primarily related to perpetual contracts. To achieve a strong bounce, it is necessary to see a sustained taker bid and higher accepted value. This indicates that active buying interest and increased price acceptance are crucial for upward momentum.

According to Skew Δ (@52kskew), the same buyer who previously purchased during sell pressure in the BTC market has re-entered, indicating a potential strategic positioning. The market is currently net positioned for lower prices, suggesting that if there is an upward movement, it should be supported by increased buying flows such as chasing limit bids and taker bids.

According to @52kskew, a similar algorithmic trading pattern as observed previously is causing taker bids to drive prices up initially into the US market open. This activity suggests continued influence of algorithmic strategies in the cryptocurrency market, particularly around key trading times like the US open.