$BTC
$202 million more in sell orders than buy orders within 5% of price.
But here's what's interesting. That imbalance was over $600M a couple weeks ago. Each bounce is eating into the sell side bit by bit. Buyers are absorbing supply on every push up.
Problem is, look at price. Lower highs every single time. Buyers chew through a chunk of sellers, run out of gas, and price rolls over again. Then the sell side reloads.
Absorption only matters if buyers can sustain it. Right now they show up, take a bite, and disappear. The sell side thins out a little, then fills right back up.
The imbalance is slowly shrinking. But until buyers can actually hold a rally instead of fading every push, it's just bounces getting sold into over and over.