🔍 Spot CVD shows accumulation, perp futures diverge. My analysis confirms institutional buying is likely driving price absorption, with spot CVD on Coinbase & Binance Spot trending up, while futures CVD is less convincing. 30m CVDs highlight spot accumulation on Coinbase & Binance Spot. 1m chart shows a significant volume/delta spike around 10:00. This spot-led flow suggests underlying conviction. Monitor spot CVD for continuation. BTC