Spot CVD chart at 3:00 p.m. UTC on July 22

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper section shows the volume heatmap, while the lower section shows cumulative volume delta, or CVD. - The volume heatmap in the upper section tracks trading volume at each price level. The background color becomes brighter when the price stays in a specific range for an extended period or makes a large move. Areas closer to brighter colors may act as support or resistance. - The cumulative volume delta indicator in the lower section reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color rises. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.