Definition. Spot Cumulative Volume Delta (CVD) is the running total of net buying versus selling volume over time, capturing sustained market pressure in either direction.

Technical. Aggregates Volume Delta (VD), the difference between buyer-initiated and seller-initiated trades, across intervals (e.g., hourly, 10-minute) where USD or USD-related currencies serve as the quote. The series can be viewed per exchange or aggregated across exchanges to reveal persistent market momentum.