What do we see from the large payment amount on the order book? I just checked the buying and selling amount data on the order book again and saw a large amount of pending orders around 62000, which is a bullish signal. 1、 Current order book signal: Large investors are indeed actively attracting funds. According to the analysis of BTC/USDT spot order book data on July 9th, the signals of large player behavior are quite clear: The giant whale is actively buying: the CVD (cumulative trading volume difference) brown line representing large orders (1 million to 10 million US dollars) is steadily rising, which directly indicates that large participants are aggressively accumulating near the current price, rather than individual investors' scattered buying. This is the active takeover of long main funds. Clear support level: The heat map of trading volume shows that trading activity is concentrated around the two price levels of $58000 and $62000, further verifying that the area around 62K is a key support zone for real buying. This pending order has provided data support for the feeling that "62K is difficult to fall". The active buying of large investors is usually seen as a leading signal of short-term price stabilization. Unchanged: Mid term downside risks and structural contradictions. Although this pending order can provide a bottom line, it has not fundamentally changed the deep-seated contradictions in the market: The selling pressure of ETFs is structural: in June, ETFs recorded a record net outflow of $4.3 billion, and the sustained outflow of funds has caused systematic selling pressure on prices. Therefore, the current buying trend is more like "taking over" rather than "reversing the trend". The key resistance still exists: in order for the upward trend to form, the price needs to continue to increase volume and stabilize above $64000, and cooperate with the continuous inflow of ETF funds. In addition, if the price falls below 62000, it may trigger a multi order liquidation of $267 million, and this pending order may also withdraw accordingly.