Another boring day of just going sideways... Just waiting for the US stock market to open and create some volatility to scalp a bit...

Regarding order placement: Buy and sell orders are very balanced... Ranging from 86.5 to 89k, there’s generally not much resistance... Within a 5% range, it’s also quite balanced... No clear direction... (Figure 1 Figure 2)

From the CVD perspective, spot and futures are also diverging... (Figure 3)
Spot has been continuously selling pressure across the entire network since yesterday’s drop... Net selling pressure around 200 million... (Aggregated spot CVD). However, the price remains resilient, still showing a passive buy-side absorption...

From Figure 1, you can also see spot orders around 87~86.8, which were hit hard, absorbing liquidity...

But after that, the move from 86.8k to 88k was mainly driven by futures... If spot buying doesn’t follow, it won’t last long... Waiting for the US stock market to open for direction...