The return of Ethereum (ETH) above the $1,800 mark was accompanied by a sharp surge of aggressive buying on the Binance exchange. According to CryptoQuant analyst Amr Taha, the ETH Taker Buy Volume metric, which reflects the volume of market buy orders, exceeded $1 billion within a single hourly interval.

This is the highest hourly figure since June 5, when Ethereum was trading around $1,605. The analyst considers the current surge more significant, since it coincided with the breakout above $1,800 — the first major return to this level after the drop to the June 6 low near $1,510.

Want more exclusive news and analytics? Subscribe to our Telegram channel, discuss the news and share your opinions on the latest market events in the chat!

What the surge in buying tells us

According to data for June 15, in just six hours the combined Binance Total Taker Buy Volume metric reached around $2.8 billion, with more than $1 billion of that amount coming in just one hour. In Amr Taha’s opinion, this indicates that the move above $1,800 was driven not only by price dynamics, but also by a concentrated wave of market buy orders.

The key point the analyst highlighted is the timing. Earlier this month a similar volume of aggressive buying appeared while ETH was still trading at lower levels around $1,605. This time the same activity came when the price of Ethereum was breaking through an important psychological and technical threshold.

A sustained hold above $1,800, according to Amr Taha, would mean that aggressive buyers are ready to push the price higher after the recovery from $1,510. However, if the development of the move weakens, the hourly surge of $1 billion may turn out to be merely a short-term burst of liquidity rather than the start of a broader trend. For now, the order-flow data on Binance shows that the breakout above $1,800 was backed by one of the strongest hourly waves of aggressive buying in the past ten days.

Source: BeInCrypto