Bitcoin Order Book Imbalance Highlights Thinnest Bids on Hyperliquid
Bitcoin (BTC) was trading close to $85,852 as the order book bids and asks fluctuated across five different spot and perpetual markets. Among the platforms analyzed, Hyperliquid stood out with the smallest bid total for perpetual contracts.
On Binance’s spot market, bids totaled approximately $14.63 million, while asks were slightly lower at $11.39 million, giving bids a slight edge of about $3.25 million. In contrast, Coinbase’s spot market showed a different picture, with bids at $20.63 million and asks at $22.66 million.
Moving to perpetual markets, Binance had bids of about $36.94 million against $39.37 million in asks, while OKX recorded $12.54 million in bids and $14.04 million in asks. Hyperliquid’s perpetual market displayed the lowest bids at $6.46 million, with asks at $4.85 million. This imbalance suggests that large market orders on Hyperliquid could lead to more pronounced slippage.