Coinbase Spot Bitcoin Sell Orders Exceed Bids by $11.89 Million

Coinbase’s spot Bitcoin (BTC) order book showed $11.89 million more in nearby sell orders than bids in an Oct. 27 snapshot, extending a pattern seen two days earlier.

Nearby asks totaled about $32.97 million, while bids came to about $21.08 million. The $11.89 million gap represented 22% of the combined displayed depth.

A prominent ask at $82,000 represented 104.93 BTC, worth about $8.6 million. The price was 2.49% above the snapshot midpoint of about $80,009.

In an Oct. 25 Coinbase snapshot, nearby sell orders exceeded bids by about $11.34 million, or 20.17% of combined depth. The $82,000 ask then stood 1.55% above the midpoint.

These figures describe orders posted on Coinbase’s spot market, not completed trades.