Binance Perpetual Bitcoin Sell Orders Outweigh Buys by $1.67 Million

Bitcoin was quoted at $81,452 in an Oct. 15 market snapshot, while Binance's perpetual market showed about $48.22 million in sell orders against $46.56 million in buy orders. Sell orders exceeded buys by roughly $1.67 million in the displayed order book.

An order book lists available buy orders, or bids, and sell orders, or asks. Those figures describe posted liquidity at a moment in time, not trades already completed. Binance's spot market showed the opposite balance, with buy orders heavier than sell orders, though spot-side depth was smaller than in the perpetual market.

A sudden large order can have a greater effect where an order book has less depth, because fewer displayed orders are available to absorb it. The snapshot showed different near-market balances across Binance's spot and perpetual markets, rather than a single direction across both.