Skew: The bull market requires more limit orders for spot trading in order to effectively drive up prices and regain control over price manipulation

Skew said on social media that BTC's cumulative CVD and Delta spot CVD continue to rise, but the price is difficult to maintain or sustain at a high level. This situation occurs when spot buyers appear to sell at a limit price. Therefore, in order to invalidate the current selling control, the price needs to reclaim $43,000 with sufficient spot bids. This will be a market dominated by spot limit buy orders and buyers.

Currently, the trading volume of spot transactions on CEX is decreasing. The bidders for spot CVD have clear offers, and as the trading volume decreases, the increment of offers keeps increasing. This means that the bull market needs more limit spot orders in order to better push up prices and regain control over them. So far, there is still an oversupply of orders.

Note: Cumulative Volume Delta (CVD) is a technical analysis tool primarily used in trading markets (including cryptocurrencies). It measures and tracks the cumulative difference between buying and selling volumes in long-term markets. This indicator reveals buying and selling pressures at different price levels