$BTC
classic example of limit selling into best bid
this kind of selling lifts the spot CVD while price does not connect directionally
this is because one large seller is selling via an iceberg order; which is basically selling a large amount of BTC in increments while price is trading in the same price area
Often they will keep prices afloat using perps in order to make the sale.
Once the sale is complete, they will market sell whatever margin they took on into retail longs
