On May 21, 2025, analysis of the BTC/USDT spot pair order book using the Cumulative Volume Delta (CVD) chart indicated a significant retail buying momentum. The Volume Heatmap highlighted concentrated trading activity around the $67,000 and $69,500 price levels, suggesting these areas as potential support or resistance zones. The CVD chart showed a divergence between retail and institutional activity. The yellow line, representing retail-sized orders ($100 to $1,000), displayed a steady increase, indicating strong buy pressure from smaller traders. In contrast, the brown line, tracking large orders ($1 million to $10 million), remained flat with occasional spikes, suggesting institutional players are cautious. This pattern implies that while retail enthusiasm is driving current momentum, institutional investors are waiting for clearer market signals. Traders should monitor these indicators for potential shifts in market sentiment, as a rise in large orders could confirm broader bullish trends.