The Bid Price is the highest price that a buyer would be willing to pay for a certain product or service. Within the financial markets, the Bid Price is the value buyers are willing to offer for an asset, like a commodity, security, or cryptocurrency.
Multiple Bid Prices are recorded in a trading order book on the buyer side, and asking prices for the sellers. Note that the highest Bid Price is constantly lower than the lowest Asking Price. The difference between the two is called the Bid-Ask spread.
More often than not, traders or investors willing to sell their assets or stock positions need to either accept one of the Bid Prices found on the order book or to set an asking price and wait until a buyer bids against that value. This fills the order.