BTC spot CVD chart at 9:00 a.m. UTC on Oct. 12

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper panel shows a volume heatmap, while the lower panel shows cumulative volume delta, or CVD. - The volume heatmap in the upper panel tracks trading volume at each price level. The background 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 in the lower panel reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color moves higher. For example, the yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.