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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 face another sizable decline before reaching its next major concentration of buying interest, with Binance order-book data showing a dense wall of bids around the $67,000-$68,500 region.
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CoinGlass highlighted the setup with a direct warning:
“Not Kidding…
Next support: ~$68K. Looks like someone’s already waiting for it.”
Bitcoin currently trades near $73,626, down around 1% over the past 24 hours, according to CoinMarketCap. From the current price, a move to $68,000 would represent another decline of roughly 7.6%.
The Binance perpetual order book shows Bitcoin trading around $73,718 in the Nov. 11 snapshot, with several layers of liquidity positioned on both sides of the market.
The most striking feature sits much lower. A dense group of green bid bands stretches across approximately $67,000 to $68,500, with numerous large resting buy orders concentrated within that zone.
Unlike an isolated bid at one exact price, this area contains multiple stacked levels of demand. That makes the broader high-$60,000 region more significant than a single order wall.
CoinGlass’s own documentation explains that brighter, persistent bands on an order-book heatmap normally represent larger resting orders. These areas can function as support when price approaches them because buyers are already positioned to absorb selling.
This is why $68,000 now stands out as a possible deeper support level if Bitcoin cannot stabilize around its current price.
The $68K cluster is not the only buying liquidity underneath Bitcoin. Closer to the current market, the snapshot identifies several notable bid walls.
The strongest nearby displayed wall is approximately $12.84 million just below the $73,500 region.
Another approximately $11.51 million bid wall sits near the mid-$72,000s, while a further $9.93 million wall is visible close to $72,000.
These orders mean Bitcoin would have to trade through multiple layers of nearer demand before reaching $68,000.
However, $BTC has already weakened below the $74,000 support area recently being tested.
The Crypto Basic previously noted that a sustained move beneath the recent $73,400-$73,600 lows would weaken that long-term support comparison and force the market to search for another base.
Bitcoin has also already broken several short-term support levels during the November decline.
The order book also explains why a Bitcoin rebound may face immediate resistance.
Several orange ask walls are stacked above the current price between approximately $74,000 and $75,000.
The visible concentrations include about:
Together, these orders create a relatively thick band of sell-side liquidity directly above Bitcoin.
This produces a challenging short-term structure: buyers are concentrated below the market, but sizable sellers are also waiting only a few percentage points above.
The displayed order-book imbalance was also approximately -9.2%, indicating that the snapshot remained tilted toward the sell side rather than showing overwhelming bid dominance.
The larger $68K area becomes more relevant if Bitcoin exhausts the nearer bid walls around $72,000-$73,000.
This would represent a deeper correction than The Crypto Basic’s recent $74K support test, but the high-$60,000 region now contains substantially more visible resting liquidity than many of the prices immediately beneath spot.
A similar order-book dynamic emerged in October, when more than $80 million of Bitcoin buy orders clustered around $78,000-$79,000. Bitcoin eventually traded through that broader area as selling pressure continued.
That history also illustrates an important limitation of order-book analysis.
The large $68K liquidity zone does not guarantee Bitcoin will fall there, nor does it guarantee a rebound if price eventually reaches it.
Order-book liquidity is dynamic. Traders can add, move or cancel limit orders before execution. CoinGlass specifically notes that large order walls sometimes disappear as price approaches and that observing whether the liquidity persists is more useful than relying on one snapshot.
For now, Bitcoin’s immediate test remains the nearby $72,000-$73,000 liquidity band.
If those bids absorb the current selling, $BTC could attempt to recover toward $74,000-$75,000, where substantial ask liquidity is waiting.
If the closer bids fail, however, the order book leaves one region standing out well below spot: the large concentration of buyers around $68,000.
