Hyblock Capital: Bitcoin market deeply depleted, may indicate bullish Bitcoin prices

On September 14th, according to data tracked by Hyblock Capital, market depth (i.e. the collection of buy and sell orders, whether close to or far from market prices) dried up over the weekend. This pattern usually appears at market turning points, indicating that the downward trend of Bitcoin from its peak of over $65000 at the end of August has ended. Liquidity, represented by market depth, measures the market's ability to absorb large transaction orders without affecting prices. It often depends on several factors, including the time of day, market events at the time, and specific price levels. The characteristic of a market bottoming out is that traders find it difficult to take decisive action, resulting in a decrease in buy and sell orders and a decrease in liquidity. Shubh Verma, co-founder and CEO of Hyblock Capital, said in an interview with CoinDesk, "By analyzing the comprehensive spot order book, especially the order books with depths of 0% -1% and 1% -5%, we found that low liquidity in the order book is often associated with market bottoming out. These low order book levels may be early indicators of price reversal, usually preceding bullish trends