Bid price higher than market price
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DrBourse
If you don't Ask, you don't Get.
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Suggest that you Google "ASX OPENING AUCTION".
Or for avery simplistic explanation, go to the Beginners Lounge, then look for the Forum "DrBourse TA Help for Beginners", Page 2, Post #34 dated 1/8/21.
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The market price is purely the last traded price.
During trading hours bids or offers can be above or below the market price.
They are just orders sitting there.
Where order prices overlap the market price, such as pre auction or closing auction, trading halts etc, the orders are balanced out via the volumes, when trading is recommenced.
Highest buy prices are processed first via volumes against lowest priced sell volumes.
Once the prices and volumes balance, the orders are processed at that balance price. (Generally indicated by the "indicative price" and "surplus volume", either positive or negative. This can change rapidly though and can't be taken as granted.)
Individual order prices are relatively meaningless, as it's all balanced out via volume.
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