#BTC🔥🔥🔥🔥🔥 #BinanceAlphaAlert

On January 10, CoinDesk market analyst Omkar Godbole said that the current BTC (Bitcoin) market looks like an iceberg, indicating that the sell-side sentiment is dominant on the surface. However, deeper below the surface, bottom-takers are quietly waiting for an opportunity to buy BTC at a low price and possibly provide the price with support. According to Hyblock Capital, the uptrend at the quote level (i.e. market price) has turned into a downtrend in major and perpetual futures trading, indicating that more traders are willing to sell at the market price. The order book depth from the quote level (i.e. 0%) to 1% shows a similar pattern. The order book represents the total value of buy and sell orders at a given price level (e.g. 1%, 2%, 5%), indicating the market’s ability to absorb large orders. “At the pricing level, there was an uptrend, but now it has turned into a downtrend, indicating increased selling pressure, and market makers usually operate in this position,” Hyblock Capital said. “From the pricing level to the 1% area, the action is similar to that of a market maker.” Additionally, given the recent price volatility of BTC, the dominance of sellers at the supply level is not surprising. BTC fell from over $102,000 to $94,000, mainly due to renewed inflation concerns in the United States.Please follow and like. Thanks.