Bitcoin's Mixed Order Flow: Retail Drives Buying Pressure Amid Institutional Caution
The BTC/USDT spot cumulative volume delta (CVD) chart on August 29 revealed a mixed order flow in Bitcoin's intraday trading, highlighting the divergence between smaller retail traders and larger institutional players.
The CVD chart broke down orders by size, with the yellow line tracking retail trades between $100 and $1,000 and the brown line representing large orders between $1 million and $10 million. The data showed that while smaller retail orders were driving buying pressure, larger institutional players remained cautious.
According to the volume heatmap, there was heightened activity around the $61,000 to $61,500 range, suggesting a strong interest zone. However, the CVD for large orders trended downward, indicating that they were either distributing or waiting for clearer signals before committing capital.
The overall CVD for the pair remained positive, reflecting that aggregate buy volume still outweighed sell volume at the time of observation. The chart's data suggests that a short-term price correction may be possible if large orders do not support the retail-driven rally.