BTC Market Review - December 23, 2025
The review documented the current market structure: market orders are dominated by sell orders, while limit orders are dominated by buy orders. The heat map shows abnormal liquidity densities on both sides of the price, with the lower support being more pronounced. The Balance Index remains in neutral territory, and the price is moving sideways within the established limit price ranges.
Table of content
In this market review, we are not attempting to predict the future or predict what will happen next. Our goal 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 and Limit Orders
Market orders visually show a predominance of sell trades (red rectangle). At the same time, limit orders show a predominance of buy limit orders (green rectangle).
Heat Map in Volume Mode (Blue Rectangles)
The heat map in volume mode shows abnormal clusters of limit orders. Densities are present both below and above the current price, indicating a concentration of liquidity on both sides of the range. However, the lower density is more pronounced.
Balance Index
The Balance Index is in the mid-percentile range, without any significant deviation.
Price Dynamics
Anomalous densities displayed on the heat map indicate areas of increased limit activity: significant volumes of limit orders are present both above and below. The overall balance remains neutral, without a significant shift to one side or the other.
Summary:
Locally, the price is moving in a sideways range formed within the identified limit densities.
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