> For the complete documentation index, see [llms.txt](https://userguide.cryptoquant.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://userguide.cryptoquant.com/cryptoquant-metrics/market.md).

# Market Data/Indicators

| Data/Indicator                                                                            | Definition                                                                                                                         | Implied                                                                                                                                                                                                                                                                    |
| ----------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Liquidation                                                                               | When investor close their position voluntarily or by forced liquidation which comes with bankruptcy procedure                      | <p>Any form of liquidation could affect the price and call in for another action of forced liquidation</p><p></p><p>Ex. Short/Long Squeeze </p>                                                                                                                            |
| [Taker Buy Sell Volume/Ratio](/cryptoquant-metrics/market/taker-buy-sell-volume-ratio.md) | ​Defined as the ratio of Taker Buy Volume divided by the Taker Sell Volume                                                         | <p></p><ul><li><p>Over values of  '1' </p><p>Dominant <strong>Bullish</strong> sentiment</p></li><li><p>Under values of  '1'</p><p>Dominant <strong>Bearish</strong> sentiment  </p></li></ul>                                                                             |
| [Open Interest](/cryptoquant-metrics/market/open-interest.md)                             | The number of open positions (including both long and short positions) currently on a derivative exchange's BTC/USD trading pairs. | <p></p><ul><li><p>Increasing</p><p>-Adding liquidity, volatility, and attention -Supporting ongoing price trend</p></li><li><p>Decreasing</p><p>Exiting liquidity, volatility, and attention </p></li></ul>                                                                |
| [Funding Rates](/cryptoquant-metrics/market/funding-rates.md)                             | Periodic payments to long or short traders based on the difference between the perpetual contract market and the spot price        | <p></p><ul><li><p>Rates over  ‘0’</p><p>Dominant Long Sentiment</p></li><li><p>Rates under ‘0’</p><p>Dominant Short Sentiment </p></li><li><p>Increasing</p><p>Longs gaining dominance</p><p></p></li><li><p>Decreasing trend</p><p>Shorts gaining dominance</p></li></ul> |
| [Estimated Leverage Ratio](/cryptoquant-metrics/market/estimated-leverage-ratio.md)       | Defined as the ratio of open interest divided by the reserve of an exchange                                                        | <p></p><ul><li><p>High</p><p>-Over Leveraged Market</p><p>-Possible Volatility</p></li><li><p>Low</p><p>Low Leveraged Market</p></li><li><p>Increasing </p><p>Holding More Leverage</p></li><li><p>Decreasing trend</p><p>Taking off Leverage</p></li></ul>                |
| [Fund Flow Ratio](/cryptoquant-metrics/exchange/fund-flow-ratio.md)                       | The total BTC amount flowing into or out of exchange divided by the total BTC amount transferred on the whole Bitcoin network      | <p></p><ul><li><p>Increasing</p><p>-Possible Volatility</p><p>-Active Exchanges' Activity </p></li><li><p>Decreasing</p><p>Possible OTC</p></li></ul>                                                                                                                      |


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