Bitcoin Buy Orders Dominate Directional On-Chain Liquidity After Market-Making Filters, TradingBeats Says

BlockBeats reported on September 1 that, according to TradingBeats monitoring, on-chain order structure shows that after excluding market-making and grid strategies, million-dollar directional BTC limit orders are clearly dominated by buy orders. According to BlockBeats On-chain Detection, the few sell orders placed above the current price are all existing long positions taking profit, not new short positions. As of press time, BTC was trading at $78,765. Four closely watched addresses have placed about $118 million in ordinary limit buy orders between $69,000 and $76,700, with each address using a different position and order strategy but all treating BTC pullbacks as buying opportunities. The nearest concentrated layer is between $75,669 and $76,700. Addresses 0x92b7 and 0x1367 have jointly placed 835 BTC in buy orders worth about $63.47 million, and these orders would begin to be triggered after BTC falls about 2.6% to 3.9% from the current price. Address 0x1367 currently holds no BTC position and has split 100 buy orders worth about $30.54 million between $76,000 and $76,700. Address 0x92b7 holds only 0.132 BTC and has placed about $32.93 million in buy orders between $75,669 and $75,752. If filled, both would move from near-flat exposure to large long positions. Among the deeper buy orders, 0x7665 is short 250 BTC with 20x leverage at an average entry price of $79,671.9 and has placed about $18.48 million in reduce-only buy orders between $72,500 and $75,369 to close the short for profit on a pullback. Address 0x469e already holds a 117.407 BTC long position and has placed about $35.67 million in buy orders between $69,000 and $73,700, with a planned size of nearly 500 BTC, or about 4.3 times the current long position. The order-trigger sequence suggests that if BTC falls to $75,669 to $76,700, about $63.47 million in newly opened long buy orders would enter the execution zone first. If it drops below $75,369, short-covering orders would begin to join. If BTC declines further to $73,700, 0x469e's deeper accumulation plan would be activated.