BTC Spot CVD Chart Reveals Retail-Instutional Divergence
The BTC/USDT spot cumulative volume delta (CVD) chart is drawing attention from traders, as it reveals nuances in buying and selling pressure at key price levels.
The chart tracks order flow by size, showing a picture of market sentiment that goes beyond simple price action. The upper panel displays a volume heatmap, visualizing trading activity across different price levels, while the lower panel presents the CVD indicator.
The CVD lines suggest a divergence between small and large order flows on September 2. The yellow line, reflecting smaller trades, appears to be trending upward, indicating consistent retail buying interest. Meanwhile, the brown line, representing large institutional-sized orders, shows a more subdued or even declining pattern.