According to ChainCatcher news and CoinDesk reports, market analyst Omkar Godbole stated that the Bitcoin market shows a unique 'iceberg' situation: although the surface market shows a seller-dominated environment, the deep buying power is continuously accumulating. At the quoting level (0%) and within the 1% depth range, trades dominated by market makers show significant selling 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 shows that the market has the ability to absorb large orders at stable prices. Currently, the Bitcoin price is $94,000, and the market is closely watching how the upcoming U.S. non-farm payroll data will guide the movement of risk assets.
