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Analysis: The Bitcoin market presents an "iceberg" situation, where the surface market shows seller dominance but deep buying power is continuously accumulating

Analysis: The Bitcoin market presents an "iceberg" situation, where the surface market shows seller dominance but deep buying power is continuously accumulating

Bitget2025/01/10 07:58

According to CoinDesk, market analyst Omkar Godbole stated that the Bitcoin market is showing a unique "iceberg" situation: although the surface market shows seller dominance, deep buying power is continuously accumulating. Within the quotation level (0%) and 1% depth range, trades dominated by market makers show significant selling pressure; however, in the deeper price range of 2% to 5%, buy orders exceed sell orders and continue to grow, indicating that off-market funds are positioning at lower prices.

Order Book Depth data shows that the market has the ability to absorb large orders at stable prices. Currently, Bitcoin is quoted at $94,000 and the market closely watches for guidance from upcoming US non-farm employment data on risk asset trends.

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