Ever wondered why executing a trade can cost more than the price displayed on your screen? When trading assets like Bitcoin (BTC), the displayed market price represents the last matched transaction, not a guaranteed rate for your entire position. Exchanges rely on an order book, which lists buy orders (bids) and sell orders (asks) across various price levels. If you place a market order that exceeds the available volume at the top bid or ask, your transaction automatically consumes deeper levels of the order book. The difference between your expected price and the final execution price is called slippage. Low liquidity creates higher slippage risk, while deep liquidity absorbs orders smoothly. Practical Takeaway: Always check order book depth before placing large market orders, or utilize limit orders to specify your exact execution price.

📊 Pair: $BTC/USDT
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