joaowedson
Binance Monthly Reset CVD: Reading Bitcoin’s Monthly Order Flow
This chart shows Binance Cumulative Volume Delta, calculated from taker buy volume minus taker sell volume, with the CVD resetting to zero at the beginning of every month. What makes this view interesting is how each monthly reset creates a new snapshot of Bitcoin’s order flow. Some months quickly develop strong positive CVD, while others remain deeply negative, and these shifts often reflect how aggressive buyers and sellers are behaving during different phases of the market. The current month is negative, which means taker sell volume has exceeded taker buy volume so far. However, a negative CVD should not automatically be interpreted as bearish. The important question is how price reacts to that selling pressure. If Bitcoin remains relatively resilient while CVD continues lower, it may suggest that aggressive selling is being absorbed by passive buyers. On the other hand, if both price and CVD decline together, the selling pressure is having a more direct impact on the market. This monthly reset makes it easier to compare changes in participation, aggression, and absorption over time, instead of looking at one continuously accumulated CVD series. The current reading is negative, but the relationship between price and CVD matters more than the sign alone.