Displayed bids totaled $11.6412 million, roughly $5.85 million above the $5.7898 million in asks.
That left spot bids at about twice the ask value, with a $5.8514 million difference.
The Binance perpetual market also leaned toward bids, though its surplus was below the spot market’s. In a separate, earlier Binance perpetual-book reading, bids totaled $60.76 million and asks were $50.68 million, a $10.08 million lead.
Order books offer a snapshot of market depth. On exchanges with thinner books, a sudden large order can have a more pronounced effect on prices.
