Order book data tracked by Liquid247.xyz showed Bitcoin trading at $80,646, with the thickest visible depth concentrated on Coinbase spot. On that venue, sell orders stood at $33.1693 million versus $18.5168 million in buy orders, leaving the sell side ahead by $14.6525 million. Liquid247 also noted that sell-side depth was heavier than buy-side depth on Binance spot, OKX perpetuals, and Hyperliquid perpetuals, though the scale on those venues was smaller than on Coinbase spot. The platform added that if a large buy or sell order hits the market suddenly, exchanges with thinner books are likely to react first, and price swings there may be more pronounced. The snapshot points to a market structure in which visible liquidity is unevenly distributed across venues, with Coinbase spot currently showing the largest imbalance among the platforms mentioned.
Bitcoin was trading at $80,646, according to order book monitoring platform Liquid247.xyz.
Coinbase spot shows the thickest visible depth
Liquid247 data showed the largest visible order book concentration on Coinbase spot. Sell orders were listed at $33.1693 million, while buy orders stood at $18.5168 million, putting the sell side ahead by $14.6525 million.
Other venues also show heavier sell-side depth
Binance spot, OKX perpetuals, and Hyperliquid perpetuals also had thicker sell-side depth than buy-side depth, though the scale was smaller than on Coinbase spot.
Thinner books may move first on large orders
Liquid247 said that if a large buy or sell order appears suddenly, exchanges with thinner order books are likely to be pulled first, with sharper price moves following.
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