Prior to BTC price increasing, we saw a large increase in the retail vs whale indicator averaged across most coins, while price remained flat. Often a bullish sign.
Note: We use top trader positions long% as a proxy for whales and global accounts long% as a proxy for retail.
Bids and Asks (orderbook) data can be used in many ways. The simplest way: supply and demand.
We saw supply increasing as the bid-ask ratio turned more negative. This was due to asks (limit sell orders), within 1% of the book, increasing significantly.
Welcome to our first article on Binance. The focus of these article series will revolve around educational content on how to use various metrics, recapping the market, a big-picture crypto outlook, and much more.
In this article, we'll look at a big move in the market and use data to explain how liquidity cascades work.
Volatility is back?
Bitcoin is well-known for its volatility. 20%+ moves in a day (or hours) are quite frequent for those of us who have been in crypto long enough. Since the