BTC Market Review - December 16, 2025
The review documents the current market structure without forecasts: market selling is accumulating, but the minimum is not being updated due to absorption by limit buyers. Limit orders are forming density on both sides of the price, the balance index is in the rare zone, and the price continues to move in a relatively narrow sideways range.
Table of content
In this market review, we are not attempting to predict the future or predict what will happen next. Our task is to state the facts we have at the current moment. We base our actions on these facts, not on our expectations and hopes.
Market Orders (red arrow)
Market orders are showing a shift in balance toward selling. The total selling volume continues to accumulate, but the price is not breaking the local low, indicating active absorption of selling by buyers’ limit orders.
Limit Orders (green rectangle)
Limit orders are showing a steady increase in buy orders, which is also reflected in the cumulative delta histogram.
Z-Score (price) - blue arrow
As a result, market sellers have pushed the price down by more than two standard deviations, which is a statistically abnormal value.
Heatmap in Volume Mode (Arched Arrow)
The heatmap in Z-Score mode shows abnormal clusters of limit orders. Densities are observed both below and above the current price, indicating a concentration of liquidity on both sides of the range.
Balance Index
The Balance Index is shifted downwards and is in the rare percentile zone, indicating a current imbalance.
Price Dynamics
Anomalous densities in the Z-Score mode on the heat map reflect zones of increased limit activity: significant volumes of limit orders are present both above and below. Locally, the price has been in a sideways price range for about 24 days.
Summary:
The local low is still not being updated: market orders are running into abnormal limit orders, and the price currently continues to move in a relatively narrow price range.
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