Bitcoin Price Analysis: BTC Order Book Shows Discount Bids Before Choppy Close
Bitcoin hovered near $78,475 on Friday, October 30, after a steep selloff, as order-book data showed substantial bids below the market. The near-balanced liquidity suggests buyers remain active despite the Binance breach and hotter U.S. inflation, although it does not establish a lasting recovery. As a result, $BTC’s price may remain unsettled through October’s monthly close.
| Price Level | Market Significance |
| $81,971 | 12-hour high |
| $79,250 | Immediate resistance |
| $78,810.10 | $7.12M ask wall |
| $78,195.90 | $7.95M bid wall |
| $77,910 | 12-hour low |
| $77,179 | Daily support reference |
Order Book Reveals Modest Buyer Advantage Below Spot
The supplied Bitcoin order-book snapshot showed a 52:48 bid-to-ask split, indicating a narrow difference rather than overwhelming demand for buyers. Per the chart, the nearest $BTC bids totaled approximately $7.95 million, around $78,195.90, against $7.12 million in asks near $78,810.10. That bid wall sat $279.10 below the quoted price.
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Additional orders appeared near $77,579 and below $77,000, placing several bid clusters beneath Friday’s quoted price. Those orders could absorb selling if they remain available and execute, but market participants can cancel or reposition orders at any time. The book therefore signals potential demand, not confirmed buying pressure.
Hourly Rebound Meets Resistance as Key Levels Remain
Meanwhile, TradingView’s hourly chart showed Bitcoin rebounding from approximately $76,500 to $78,475. It recovered above the marked 12-hour low at $77,910 but remained below resistance near $79,250. The chart also identified $77,179 as a key daily level and $81,971 as the marked 12-hour high.
That high remained $3,496 above the quoted price. This suggests the recovery reclaimed one reference level without clearing the next overhead barrier. Meanwhile, $BTC order-book bids near $78,195 sat between the market price and the lower chart markers.
Source: TradingView
This price analysis separated an observed intraday bounce from an established change in direction. The chart therefore recorded the rebound, while the order book measured resting liquidity rather than actual execution.
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Security Breach, Inflation, and Options Frame Monthly Close
Bitcoin’s recovery came amid market uncertainty following the October 29 Binance security breach, which affected an estimated $6.3 billion in assets. Approximately $3 billion was subsequently frozen on-chain, while concerns over market liquidity and widening spreads added to the pressure.
Meanwhile, U.S. inflation data added to the uncertainty. Annual PCE inflation reached 3.6% in September, up from 3.4% in August, while core inflation stood at 3.1%. These readings provided further context for Bitcoin’s price movements ahead of the monthly close.
Source: U.S. Bureau of Economic Analysis
Options expiry also remained in focus. On October 23, CryptoQuant estimated that $11.1 billion in Deribit Bitcoin options would expire on October 30 at 08:00 UTC. The firm placed the maximum-pain level at $78,000, although that figure was an estimate made seven days before expiry rather than a guaranteed settlement price.
Source: CryptoQuant
With Friday’s session preceding the Saturday monthly close, attention remained on Bitcoin’s ability to hold its recent recovery. The analysis identified $77,910, $79,250, and $77,179 as key price levels to monitor as the market approached Monday, November 2.
Key Bitcoin Price Market Scenarios
| Scenario | Trigger | Potential Outcome |
| Bullish | Break above $79,250 | Opens path toward $81,971 |
| Neutral | Hold $77,910–$79,250 | Continued consolidation |
| Bearish | Break below $77,179 | Exposes lower bid zones |
FAQs
1. Why Are Buyers Bidding Below Bitcoin’s Price?
The order book shows $7.95 million in bids near $78,195.90.
2. What Does the 52:48 Order-Book Ratio Indicate?
Buyers hold a slight advantage over sellers.
3. What Is Bitcoin’s Immediate Resistance Level?
$BTC faces resistance near $79,250.
4. Why Is Bitcoin Facing Month-End Uncertainty?
The Binance breach, inflation, and the $11.1 billion options expiry estimate add uncertainty.
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