BTC: Spot Buy/Sell Trade Count Ratio
Shown as its 3 Oct – 1 Nov 2026 sample; the latest readings and full history are included with Plus.
Number of BTC spot taker-buy prints divided by the number of taker-sell prints, in each period.
Why use it. It counts orders rather than dollars, so every trader weighs the same: it shows which side the crowd is on, while the large-trade buy/sell ratio shows which side the big money is on. How to read it. Above 1, more orders bought than sold; below 1, more sold. The crowd and the money often disagree near turning points: many small buys against fewer, larger sells is a common picture of distribution.
Calculation. Taker-buy prints / taker-sell prints, all sizes together. Each period counts the trades whose venue timestamps fall inside it; the open period is a partial and fills in as its minutes are written, about ten seconds after each minute ends. Source: our own trade-by-trade capture of the public spot trade feeds of Binance, Bybit, Bitget, Gate, KuCoin, HTX, Crypto.com, OKX, Coinbase and Kraken, for BTC's spot markets against USD, USDT, USDC and FDUSD; every trade is bucketed by its US-dollar size as it arrives. A print is one taker order's execution at one moment as the venue publishes it: the fills one aggressive order makes against several resting orders at once are merged into one print, using the venue's own order, match or transaction identifiers where it publishes them (KuCoin, Coinbase, Bybit, OKX, Deribit, Crypto.com, HTX, Hyperliquid) and otherwise the same millisecond and side (the same microsecond on Kraken spot). A print is a fill, not a parent order: a large order split into smaller pieces over time, by an algorithm or by hand, lands in the buckets of its pieces, so the large buckets show what was executed in one go and the small buckets include pieces of larger orders. Who traded is not known: sizes say nothing about the identity of a trader. Stablecoin quotes (USDT, USDC, FDUSD) count at face value as USD. Trades missed during a reconnect are not estimated, and venues we do not collect are not included, so totals understate the whole market. History starts when this collection began on 20 October 2026; no earlier values are reconstructed. OKX, Coinbase and Kraken are included from 23 October 2026, when this collection added them; no earlier values are reconstructed for them.