Definition
Bids form the buying side of an order book. They represent offers, not completed purchases. The highest currently available bid is the best bid, while lower bids wait at less competitive levels. A bid must be read together with its available quantity.
How It Works
If a hypothetical participant bids 99 USDT for 2 units, a willing seller may match up to that quantity under market rules. A market sell can consume the highest bids first and move to lower bids if more quantity is needed. A bid below the ask can remain unfilled.
Key Considerations
A displayed bid may be canceled or changed before execution. It is not the price an immediate buyer necessarily pays; buyers generally face asks. Large bid quantities can suggest interest but do not guarantee price support or reveal a trader’s full intentions.