$ 108,584.4
BTC
-2.06 %
$ 2,549.76
ETH
-3.30 %
$ 0.7669
ADA
-4.24 %
$ 663.77
BNB
-2.64 %
$ 178.12
SOL
0.00 %

Jyoti Singh
Jun 15, 2020

Bitcoin Bid Stacked On Bitfinex's Order Book Shows Bullish Trend

Order Book
The last few days have been very difficult for Bitcoin.  The kingcoin's value in the past 24 hours plunged approximately $1,000, but despite that, it is being assumed that it would finally bounce.

Increasing Demand Of BTC

It is being assumed that in the future, the situation for Bitcoin might change because there has been a confluence to purchase support for the cryptocurrency, which is connected with its extensively spiked demand.

According to the data revealed by Milne, the order book has around 6,163 BTC whose purchasing order worth is from $8,700 to $9,400 and 2,807 BTC whose selling order worth is from $9,400 to $10,100.

His data shows that in the market the purchasing demand of BTC is more than that of the selling. The increasing demand for buying BTC could be considered to be a bull catalyst for the cryptocurrency.

GBTC Trading At Premium

Another data published by TradingView.com also shows that the demand for buying BTC is getting stronger day-by-day.

Its data indicates that compared to the spot price of BTC, the Grayscale Bitcoin Trust has been trading at a premium on the secondary market.

On June 12, a trading session was held which revealed that GBTC’s shares were 20 percent more valuable than that of the BTC.

A report by the analysts states that the retail demand for Bitcoin increases along with a high GBTC premium.

In recent time, GBTC is the only effective way that could help investors in getting exposure to Bitcoin via Wall Street brokerage.

Articles You May Read.

    Bitcoin Bid Stacked On Bitfinex's Order Book Shows Bullish Trend
    Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

    Related News

    Donald Trump Hosts Crypto Gala Amidst "Trump Coin" Controversy
    LIVE CRYPTO NEWS

    Donald Trump Hosts Crypto Gala Amidst "Trump Coin" Controversy

    Former U.S. President Donald Trump recently hosted a high-profile crypto gala, signaling his increasing engagement with the digital asset community. However, the eve ...
    Ajay Agarwal8 hours ago
    Shiba Inu (SHIB) Poised for Potential 32% Breakout
    LIVE CRYPTO NEWS

    Shiba Inu (SHIB) Poised for Potential 32% Breakout

    Shiba Inu (SHIB) is currently positioned for a significant price movement, with technical analysis suggesting the popular meme coin could be on the brink of an epic ...
    Sujit Kumar11 hours ago
    Michael Saylor: Not Buying Bitcoin at ATH Means Missing Out
    LIVE CRYPTO NEWS

    Michael Saylor: Not Buying Bitcoin at ATH Means Missing Out

    Michael Saylor, a prominent Bitcoin advocate and executive chairman of MicroStrategy, has made a compelling statement, suggesting that investors who are not acquirin ...
    Raghav Agarwal14 hours ago
    Metaplanet Stock Deemed Undervalued Despite Bitcoin Rally
    LIVE CRYPTO NEWS

    Metaplanet Stock Deemed Undervalued Despite Bitcoin Rally

    Despite the recent surge in Bitcoin’s value, investor Richard Byworth suggests that Metaplanet’s stock remains significantly undervalued. This assessment ...
    Ajay Agarwal14 hours ago
    PinkSale AutoStakeYield Fair Launch ad
    Cardano (ADA) Experiences 27% Surge Amid Rising Spot ETF Hopes
    LIVE CRYPTO NEWS

    Cardano (ADA) Experiences 27% Surge Amid Rising Spot ETF Hopes

    Cardano (ADA) has seen a significant price increase of 27% over the past 30 days, a rally coinciding with a notable jump in the odds for a spot Exchange-Traded Fund ...
    alok agarwalMay 22, 2025