Spot CVD chart at 9:00 a.m. UTC on July 23

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper panel shows the volume heatmap, while the lower panel shows cumulative volume delta, or CVD. - The volume heatmap 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 moves sharply. Brighter zones may act as support or resistance levels. - The cumulative volume delta indicator shows buy and sell orders by order size. As buy orders increase, the line in the corresponding color rises. The yellow line represents orders from $100 to $1,000, while the brown line represents large orders ranging from $1 million to $10 million.