The Bitcoin Buy Wall

We've talked at length about the accumulation taking place on the part of larger trader cohorts.

To visualize these developments, we've primarily used all the on-chain metrics at our disposal. Another way to go about doing this is by going directly to the order book.

Using heatmaps of all the limit orders on crypto exchanges, we can get an idea of where traders are accumulating and where they're selling into strength. The more yellow the heatmap, the bigger the size of the orders.