Analyst: BTC is far from the market-priced order book Depth, which is continuously rising. Buyers are waiting for the opportunity to get on board.

BlockBeats News, on January 10, CoinDesk market analyst Omkar Godbole said that the current BTC (BTC) market looks like an iceberg, showing the dominance of sellers on the surface, showing a clear bearish mood. However, at a deeper level below the surface, bottom-takers are quietly waiting for an opportunity to buy BTC at a low price and possibly support the price. According to Hyblock Capital data, on major spot and perpetual futures exchanges, the rise trend of the quote level (i.e., the market price) has turned into a downtrend, showing that more traders are willing to sell at the market price. The order book from the tick level (i.e. 0%) to 1% Depth shows a similar pattern. Order Book Depth represents the total value of buy and sell orders at a specific price level (e.g., 1%, 2%, 5%), showing the market's ability to absorb large orders. According to Hyblock Capital, "At the quote level, there used to be a rise trend, but now it has turned to a downtrend, indicating increased selling pressure, which is where market makers usually operate. From the quote level to the 1% area, the action is similar to that of a market maker." In addition, considering the recent price fluctuation of BTC, it is not surprising that sellers are dominant at the offer level. BTC had fallen from more than $102,000 to $94,000, mainly due to renewed inflation concerns in the United States. On Thursday, the price fell to $92,500 at one point. But what is really worth noting is that the market Depth has continued to rise from 2% to 5%, showing more buying than selling at price levels away from the market price. In other words, buyers are waiting to get on board at these price levels. "Between 1%-2% and 2%-5%, we're seeing an increase in demand (buy orders gradually outnumbering sell orders)," Hyblock added.