CoinGlass says Bitcoin’s next major support could sit near $68K as Binance order-book data shows a massive concentration of buy orders in the high-$60,000s.
Bitcoin could see another substantial drop before reaching its next major cluster of buying interest. Binance order-book data shows a dense concentration of bids around $67,000-$68,500.
CoinGlass underscored the setup with a pointed warning:
“Not Kidding…
Next support: ~$68K. Looks like someone’s already waiting for it.”
Bitcoin is currently trading near $73,626, down about 1% in the past 24 hours, according to CoinMarketCap. A fall from here to $68,000 would amount to a further decline of roughly 7.6%.
Large Bitcoin Buy Orders Cluster Around $68K
In the Nov. 11 snapshot, Binance’s perpetual order book shows Bitcoin trading around $73,718, with several liquidity layers on both sides of the market.
The most notable feature is much lower down. A dense cluster of green bid bands spans roughly $67,000 to $68,500, with numerous large resting buy orders concentrated there.
Rather than a single bid at one precise price, this zone has multiple layers of demand stacked together. That makes the broader high-$60,000 area more notable than one isolated order wall.
CoinGlass’s documentation says brighter, persistent bands on an order-book heatmap generally indicate larger resting orders. Such areas can act as support when price nears them, as buyers are already positioned to absorb selling.
That is why $68,000 now stands out as a potential deeper support level if Bitcoin fails to stabilize near its current price.
Bitcoin Has Buyers Near $72K-$73K First
The $68K cluster is not the only buying liquidity below Bitcoin. The snapshot also shows several notable bid walls closer to the current market price.
The largest nearby wall displayed is about $12.84 million, just below the $73,500 area.
Another bid wall of about $11.51 million sits near the mid-$72,000s, and a further $9.93 million wall appears near $72,000.
Bitcoin would need to trade through several nearer layers of demand before reaching $68,000.
However, $BTC has recently fallen below the $74,000 support area that had been under test.
The Crypto Basic previously noted that a sustained move below the recent $73,400-$73,600 lows would weaken that long-term support comparison and force the market to seek another base.
Bitcoin has also broken through several short-term support levels during the November decline.
Heavy Sell Liquidity Sits Between $74K and $75K
The order book also helps explain why a Bitcoin rebound could encounter immediate resistance.
Several orange ask walls are stacked above the current price, between roughly $74,000 and $75,000.
The visible concentrations include:
- $9.72 million in one nearby ask wall,
- $9.52 million in another layer above it, and
- $12.93 million in the largest overhead wall shown.
Together, these orders form a relatively thick band of sell-side liquidity directly above Bitcoin.
The result is a challenging short-term setup: buyers are concentrated below the market, while substantial sellers are waiting only a few percentage points above it.
The displayed order-book imbalance was also about -9.2%, suggesting the snapshot still leaned toward sellers rather than showing overwhelming bid-side dominance.
Why $68K Could Matter if $72K Fails
The larger $68K area matters more if Bitcoin runs out of support at the nearer bid walls around $72,000-$73,000.
That would be a deeper correction than The Crypto Basic’s recent $74K support test. But the high-$60,000 region now has substantially more visible resting liquidity than many prices immediately below spot.
A similar order-book pattern appeared in October, when more than $80 million in Bitcoin buy orders clustered around $78,000-$79,000. Bitcoin eventually moved through that broader zone as selling pressure continued.
That history also highlights an important limitation of order-book analysis.
A Bid Wall Is Not Guaranteed Support
The large $68K liquidity zone does not ensure Bitcoin will fall to that level, or that it will rebound if price reaches it.
Order-book liquidity can change. Traders may add, move or cancel limit orders before they are executed. CoinGlass specifically notes that large order walls sometimes disappear as price approaches, and that watching whether liquidity persists is more useful than relying on a single snapshot.
For now, Bitcoin’s immediate test is the nearby $72,000-$73,000 liquidity band.
If those bids absorb the current selling, $BTC could try to recover toward $74,000-$75,000, where substantial ask liquidity is waiting.
If the nearer bids fail, however, one region stands out well below spot in the order book: the large concentration of buyers around $68,000.
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