BTC spot CVD chart at 7:00 p.m. UTC on Sept. 28

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 represents 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 makes a large move. Brighter zones may act as support or resistance. - The cumulative volume delta indicator shows buy and sell orders by order size. As buy orders increase, the line in the corresponding color moves higher. The yellow line is based on orders between $100 and $1,000, while the brown line reflects large orders between $1 million and $10 million, among other categories.