In the crypto market, there is profit taking against the backdrop of rising BTC prices. Analysts at #Kaiko record an increase in the volume of limit sell orders.

Kaiko analyzed orders from 33 CEX exchanges and the result was that the liquidity of sell orders within 2% of the market price began to exceed the liquidity of buy orders. The imbalance is about $100 million ($316 million versus $223 million).

Since the beginning of 2024, there has been a clear trend - bids to sell around the market price have consistently exceeded bids to buy. And the imbalance increases. It will be difficult to call the picture bullish for the market if the trend continues in the coming month.