Binance Overtakes Hyperliquid in Aggressive Bitcoin Buying Pressure
A recent analysis has revealed a significant disparity in Bitcoin's order flow between Binance and Hyperliquid, with aggressive buying concentrated on the larger centralized exchange.
According to data from August 10, Binance's cumulative volume delta (CVD) reached approximately $1.09 billion, while Hyperliquid's CVD stood at around $22.46 million, representing a staggering 4,753% difference.
This indicates that the current wave of demand for Bitcoin has a substantial Binance component, but the price has not reacted proportionately to this buying pressure, with Bitcoin consolidating around $65,000 despite significant resistance.
The divergence between Binance and Hyperliquid suggests that passive sellers may be absorbing aggressive market purchases, while the continued rise in Binance's CVD could indicate a growing imbalance in order flow.