Record-high Bitcoin Orderbook Asks Warn Of Price Correction
Bitcoin's orderbook shows a significant imbalance with more sell orders than buy orders, potentially signaling a price correction.Summary
Bitcoin has reclaimed $70,000 as support, but analysis suggests a possible bull trap similar to one in January 2026. Sell-side liquidity has increased sharply, with $1.57 billion in sell orders compared to $1.125 billion in buy orders within a 5% price band. This imbalance indicates a heavier supply layer above the current price. While buying activity remains positive, the average short-term holder's cost basis is around $88,900, with a major supply cluster between $86,000 and $99,000. Recent data shows reduced selling pressure, with realized losses decreasing compared to the February drop. However, a significant shift may require Bitcoin to reclaim the $86,000 to $89,000 range for short-term holders to reach breakeven.
(Source：Cointelegraph)