Bitcoin is moving sideways, yet the BitMEX Taker Buy/Sell Ratio is spiking to levels you rarely see. It reminds me of some of the unusual market behavior on FTX shortly before its collapse: • Open Interest surged • There was no meaningful unwinding • BTC traded at a noticeable premium to other exchanges • Order flow became increasingly abnormal Some of the largest BitMEX Taker Buy/Sell Ratio spikes (UTC): Yesterday • 23:00 — 85.75 Today (2026-08-01) • 12:00 — 38.38 • 03:00 — 30.58 • 10:00 — 20.52 • 09:00 — 20.50 • 02:00 — 15.13 • 11:00 — 14.47 • 06:00 — 11.36 • 07:00 — 11.34 • 08:00 — 8.84 Aggressive market buying continues to hit the order book, yet BTC barely moves.(Maartunn)