Bitcoin is currently trading around the $82,500 level, a zone that is quickly becoming a short-term battleground. While price action shows continued downside pressure on the 1H chart, on-chain and order book data from Hyblock reveal a growing internal conflict beneath the surface.
On one hand, Bids & Asks Delta has turned positive, highlighted by a notable green delta spike. This suggests that limit buyers are actively placing bids, attempting to absorb the aggressive market sell orders. Historically, this type of behavior often appears near local support zones, where passive buyers try to slow or stabilize price declines.
However, this bullish signal comes with an important caveat.
At the same time, Spot Order Book Liquidity (Combined Books – Spot) is visibly declining. The turquoise liquidity line continues to trend lower, indicating that market makers and large spot participants are reducing depth, rather than reinforcing support. In practical terms, this means there is less real liquidity backing the current price, increasing vulnerability to sharp moves if selling pressure resumes.
Meanwhile, derivatives liquidity remains relatively stable, suggesting that leveraged traders are still present, but without strong confirmation from the spot market. This imbalance often precedes extended consolidation or another volatility expansion, rather than an immediate trend reversal.
Key Takeaway
Calling a definitive bottom based solely on passive bid absorption is risky. For a higher-probability reversal setup, the market needs to show:
A return of spot order book depth
Sustained positive delta with improving liquidity
Price acceptance above the current range rather than brief bounces
Until then, the $82.5K zone remains a high-risk decision area, not a confirmed support.
📌 This content is provided for informational and educational purposes only and reflects personal market observations. It does not constitute investment advice. Investors should conduct their own research and bear full responsibility for their trading decisions.
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