Analyst: The Bitcoin market shows an "iceberg" pattern, with the surface indicating seller dominance while underlying buyer demand continues to accumulate.
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Analyst: The Bitcoin market shows an "iceberg" pattern, with the surface indicating seller dominance while underlying buyer demand continues to accumulate.
According to CoinDesk, market analyst Omkar Godbole said the Bitcoin market is showing a unique "iceberg" pattern: while the surface level indicates seller dominance, deeper buy-side pressure is steadily building. At the top quote level (0%) and within the 1% depth range, market-maker trades show clear selling pressure. However, in the deeper price ranges from 2% to 5%, buy orders outnumber sell orders and continue to grow, suggesting off-exchange capital is positioning itself at lower price levels.
Navigating Web3 tides with focused insightsTechFlow news, January 10 — According to CoinDesk, market analyst Omkar Godbole said the Bitcoin market is showing a unique "iceberg" pattern: while the surface layer indicates seller dominance, deeper buying pressure continues to build. At the top of the order book (0%) and within the 1% depth range, market maker activity shows clear selling pressure. However, in the deeper price levels from 2% to 5%, buy orders outnumber sell orders and are steadily increasing, suggesting that off-exchange capital is accumulating positions at lower prices.
Order book depth data indicate the market's ability to absorb large orders at stable prices. Bitcoin is currently trading at $94,000, with markets closely watching upcoming U.S. nonfarm payrolls data for signals on risk asset direction.
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