CVD (Cumulative Volume Delta) is the running total of captured taker buy volume minus taker sell volume - a measure of which aggressive side contributed more volume since the period began. Rising CVD means more buyer-initiated volume; falling CVD means more seller-initiated volume. It does not identify traders, measure net capital entering Bitcoin, or guarantee a price outcome.
Each captured matched trade is classified by taker side - the taker either bought (crossed the ask) or sold (hit the bid). CVD accumulates the dollar imbalance of those trades:
CVD = Σ (taker_buy_usd − taker_sell_usd)
summed over captured trades from the selected period start
On Bitcoin Live's chart, switch between Price and CVD modes. CVD is displayed as candlesticks with open, high, low and close values of cumulative USD delta. It continues across candles rather than resetting each candle; each candle's change reflects that interval's net delta. Loaded history is stitched to preserve continuity. Its level depends on the chosen baseline, so compare changes rather than treating the absolute level as a market-wide balance.
The chart also shows taker buy volume (green histogram bars below the candles) and taker sell volume (red bars). These are the raw inputs to CVD.
CVD trending up + price trending up
Price and captured buyer aggression are moving in the same direction. This can confirm current activity but does not assure continuation.
CVD diverging down while price trends up
Price is rising while captured buy aggression is weakening. This may warrant checking liquidity and other evidence; it is not proof of distribution or a short signal.
CVD trending down + price trending down
Price and captured seller aggression are moving in the same direction. This describes current alignment, not a guarantee of continuation.
CVD diverging up while price trends down
Price is falling while captured buy aggression is picking up. This may warrant checking liquidity and other evidence; it is not proof of accumulation or a long signal.
Bitcoin Live calculates CVD separately for spot markets and perpetual-futures markets. The combined view merges both, but you can switch to "spot" or "perp" to isolate them. This is important because:
The Pressure Oscillator is specifically designed to surface this spot vs futures divergence. The Chart page shows the full CVD curve.
Interpret CVD relative to the selected interval and loaded history. A 1-minute candle shows short-period changes in cumulative flow; daily candles summarize a longer period and lose detail. CVD remains cumulative across candles. Changing the interval or loaded starting point can change its baseline, not just the apparent smoothness of the chart.
Practical timeframe guide:
CVD stands for Cumulative Volume Delta. It is the running total of taker buy volume minus taker sell volume over time - a continuous measure of the net aggression balance between buyers and sellers.
For each captured trade, the taker side is taken from the venue feed when available or classified by the data pipeline. CVD is the sum of buyer-initiated volume minus seller-initiated volume from a chosen starting point.
Rising CVD means captured buyer-initiated volume exceeded seller-initiated volume over the period. It can coincide with an uptrend or diverge from price, and does not predict what price must do next.
A CVD divergence occurs when CVD and price move in opposite directions. If price is making higher highs but CVD is making lower highs, the buy aggression supporting the move is weakening - a warning of a potential reversal.
CVD is neither purely leading nor lagging - it is coincident. It shows the flow of aggression in real time, so it can confirm a move as it unfolds or signal divergence before price reverses. Used with the price chart, it provides context that price alone cannot.
Bitcoin Live publishes BTC CVD as candlesticks in the Charts page's CVD mode, with spot, futures (perp), and combined views. Switch between Price and CVD modes to compare the same asset, market and interval.
See CVD live on the chart
Bitcoin Live shows BTC CVD from captured supported feeds in CVD mode; use Price mode for price candles. Spot, futures, and combined views refresh at the interface's cadence.