Coinbase Bitcoin Sell Orders Exceed Bids by About $11.34 Million

Coinbase’s spot Bitcoin (BTC) order book showed about $11.34 million more in nearby sell orders than buy orders in an Oct. 25 snapshot. The difference equaled 20.17% of the combined displayed depth.

Nearby sell orders totaled about $33.78 million, compared with about $22.44 million in buy orders. The figures describe posted orders on Coinbase’s spot market, not completed trades.

A prominent nearby ask at $82,000 represented about 105.91 BTC, worth about $8.68 million. The price was about 1.55% above the snapshot midpoint of about $80,749.

The snapshot identified $82,000 as the most prominent nearby resistance level. An earlier Coinbase order-book snapshot showed about $7.02 million more in nearby sell orders than buy orders.