Crypto
Binance Spot Bitcoin Book Shows $4.06 Million Bid Advantage
Bitcoin's (BTC) near-term order-book depth varies across five markets. Binance and Coinbase spot books show more bids than asks, while perpetual books on Binance and Hyperliquid have a higher number of asks.
Binance's spot book has $13.95 million in bids and $9.90 million in asks, resulting in a bid advantage of roughly $4.06 million. This means that if a large market order were to be executed, it could encounter greater slippage due to the imbalance between bids and asks.
On Coinbase, there are $27.36 million in bids against $21.02 million in asks, with a difference of about $6.33 million. This indicates that the demand for Bitcoin is higher on Coinbase compared to Binance.