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Bitcoin Order Flow — Who’s in Control Right Now?
Live taker buy/sell volume, net delta, and CVD across Binance, Bybit, Coinbase, OKX, and Kraken — plus US spot ETF flows. The order-flow data professional desks pay thousands for, free in your browser. No signup.
Who is in control of Bitcoin right now?
Live aggregate of taker flow across all connected exchanges over the selected timeframe. Longer timeframes reflect data gathered since you opened this page.
Taker Buy Volume
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spot + perp
Taker Sell Volume
—
spot + perp
Net Delta
—
buy − sell aggression
BTC Price
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live
Cumulative Volume Delta (CVD)
Source: Binance spot & USDT-perp taker volume for the selected timeframe. Rising CVD = aggressive buying absorbs the book; falling = aggressive selling.
Buy / Sell Pressure (live)
taker buy % over time · all exchanges · since page openGreen above the 50% midline = aggressive buyers dominating that minute; red below = sellers. Builds as trades stream in.
24H Volume by Exchange
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24-hour taker volume per exchange (perp + spot), aggregated across ~28 venues via Coinalyze. Bar color: green = net buying that venue, red = net selling.
Live Taker Flow by Exchange
since you opened this page| Exchange | Market | Taker Buys | Taker Sells | Delta | Buy % | Trades | Status |
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US Spot Bitcoin ETF Net Flows
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What Is Bitcoin Order Flow?
Bitcoin order flow measures who is trading aggressively: taker buys are trades where the buyer crossed the spread to buy instantly, and taker sells are trades where the seller crossed the spread to sell instantly. When taker buys exceed taker sells, buyers are in control; when taker sells dominate, sellers are in control. This is the same signal professional trading desks monitor to read the market before it fully shows up in price.
Every trade has a maker (the resting order) and a taker (the aggressor who crossed the spread). Price only moves when takers push it — so measuring taker imbalance tells you which side is applying real pressure. The dashboard above aggregates that imbalance live across the largest Bitcoin markets and summarizes it in one number: the taker buy percentage.
How to Read the CVD Chart
Cumulative Volume Delta (CVD) is the running total of taker buy volume minus taker sell volume. Rising CVD means aggressive buying is being absorbed by the market; falling CVD means aggressive selling. The most powerful signal is divergence: price making new highs while CVD falls is a warning that the rally lacks real buying.
We plot spot CVD (lime) and perpetual-futures CVD (blue) separately. Spot flow is real Bitcoin changing hands — conviction money. Perp flow is leverage — fast, but fragile. A move led by spot tends to hold; a move led only by perps is often unwound just as quickly.
Why ETF Net Flows Matter
US spot Bitcoin ETFs — IBIT (BlackRock), FBTC (Fidelity), ARKB (ARK 21Shares), BITB (Bitwise) and others — must buy or sell real Bitcoin as money enters or leaves the funds. Daily net inflows are direct institutional accumulation; outflows are distribution. Combined with live taker flow, ETF flows give you both the fast money (exchanges) and the slow money (institutions) in a single view.
Where the Data Comes From
The dashboard connects your browser directly to public exchange trade feeds over WebSocket — Binance (spot and USDT-perp), Bybit (spot and linear), Coinbase, OKX, and Kraken — and computes taker statistics per timeframe from exchange candle data that includes the taker-buy split. Nothing is proxied, sampled, or delayed. ETF flow data is refreshed several times per day.
Key Takeaways
- Taker buy % above 50% = buyers in control; below 50% = sellers in control — per timeframe from 1 minute to 1 month.
- CVD tracks cumulative aggression; divergence between price and CVD is one of the strongest early reversal signals.
- Spot flow = conviction, perp flow = leverage. Moves led by spot are more durable.
- ETF net flows show daily institutional demand from IBIT, FBTC, ARKB, BITB and other US spot ETFs.
- 100% free and unlimited — data streams directly from exchange APIs into your browser.
Frequently Asked Questions
Bitcoin order flow is the real-time stream of executed trades on exchanges, split by who initiated each trade. When a trader crosses the spread to buy instantly, that is a taker buy (aggressive buying); when they cross it to sell, that is a taker sell (aggressive selling). Tracking the balance between taker buys and taker sells reveals whether buyers or sellers are in control of the market right now — before it fully shows up in price.
CVD is the running total of taker buy volume minus taker sell volume. A rising CVD means aggressive buyers are consistently lifting the offer; a falling CVD means aggressive sellers are hitting the bid. Traders watch for divergences: if price rises while CVD falls, the rally is driven by thin liquidity rather than real buying and often reverses. OpenLiquid's dashboard plots spot CVD and perpetual-futures CVD separately so you can see which market is leading.
Look at the taker buy percentage over your timeframe. Above 50% means aggressive buyers dominate; below 50% means aggressive sellers dominate. OpenLiquid's free dashboard computes this live across timeframes from 1 minute to 1 month, aggregating taker volume from major exchanges including Binance, Bybit, Coinbase, OKX, and Kraken — the same order-flow data professional trading desks pay thousands per month to access.
Spot order flow reflects real Bitcoin changing hands — typically longer-term conviction. Perpetual futures order flow reflects leveraged speculation, which moves faster and drives short-term volatility. When perp CVD rises but spot CVD is flat, a move is leverage-driven and more fragile. When spot leads, the move tends to be more durable. Comparing the two is one of the most reliable ways to judge the quality of a Bitcoin move.
US spot Bitcoin ETFs like IBIT (BlackRock), FBTC (Fidelity), ARKB (ARK) and BITB (Bitwise) buy and sell real Bitcoin as investors move money in and out. Daily net inflows mean institutions are accumulating; net outflows mean they are distributing. Because these funds transact billions of dollars, ETF flow is one of the strongest daily indicators of institutional demand for Bitcoin.
Yes — completely free, no signup, no wallet connection. The dashboard streams public trade data directly from exchange APIs into your browser. OpenLiquid builds free trading tools like this alongside its paid services: volume generation, bundle launches, token creation, and CEX market making for token projects.
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OpenLiquid builds free trading tools like this one — and professional services for token projects: volume generation, bundle launches, token creation, and CEX market making.