Coinbase (stock ticker $COIN) recently saw the spot price of Bitcoin (BTC) rise sharply, with a sell order placed at **$81,514** that shook the market. At that point, the size of the sell order was estimated to be about **$520 million** (or 7 billion 9 million Korean won). During the same period, the buy order was about **$31 555 400** larger than the sell order, indicating a gauge of market volatility.
MarsBit quoted data from Liquid24/7.xyz and reported that the sell price was roughly **0.46% higher** than the mid-price of $81,746 at that time; this is interpreted as reflecting external factors affecting the exchange. At the same point, the buy order size reached **$259 116 100**, while the sell order was **$227 670 000**.
The difference between the buy and sell orders represented a combined total volume of **6.48%** more than the average depth of both sides; MarsBit evaluated this order as “the most noticeable resistance in the near term.” This can serve as an example that demonstrates how external factors affect volatility in the Bitcoin market.
Order size refers to the amount of buy or sell orders placed at a particular price level. If those orders are canceled or executed, their influence may change; however, this data only reflects the situation at a single point on Coinbase’s spot market. No comprehensive analysis including other exchanges or the entire Bitcoin market supply and subsequent order execution was provided.