Cryptocurrency Market Sees Significant Buying Pressure from Major Players

Main players in the cryptocurrency market have been positioning themselves at key price levels for Bitcoin (BTC) and Ethereum (ETH), with large limit buy orders placing significant pressure on the current prices.

According to recent data, major players traded a total of $1.307 billion worth of BTC in the past 24 hours, with $729 million of that amount coming from buy trades and $577 million from sell trades. The net result was a trade difference of $152 million.

The trend is similar for ETH, which saw major players trading a total of $1.512 billion worth of the cryptocurrency in the past 24 hours. Of this, $821 million came from buy trades and $692 million from sell trades, resulting in a trade difference of $129 million.

The current net limit order difference for BTC is $2.815 billion, while it's $2.349 billion for ETH. This indicates that major players have more buy limit orders than sell limit orders for both coins, suggesting an active buying base below the current price.