CoinVoice has recently learned that, according to a report by CoinDesk, market analyst Omkar Godbole stated that the Bitcoin market exhibits a unique 'iceberg' phenomenon: while the surface market shows seller dominance, deep buying power is continuously accumulating. At the quoting level (0%) and within the 1% depth range, trades dominated by market makers show clear seller pressure; however, in the deeper price range of 2% to 5%, the number of buy orders exceeds sell orders and continues to grow, indicating that off-market funds are positioning at lower price levels.
Order Book Depth data shows that the market has the ability to absorb large orders at stable prices. Currently, the price of Bitcoin is $94,000, and the market is closely watching the upcoming U.S. non-farm payroll data for guidance on the movement of risk assets. [Original link]
