Bitcoin price has seen a bullish surge in the first quarter of 2023, however, the banking crisis in the U.S. has led to a liquidity crunch in the crypto market.
, where stocks and bonds have seen one of their worst years. The financial crisis triggered a bank run in the U.S., leading to several top banking giants collapsing.
The banking crisis also directly impacted the crypto ecosystem, where the collapse of crypto-friendly banks such as Silicon Valley andLiquidity on US vs non-US exchanges. Source: Kaiko The crunch in liquidity has also led to increased price volatility forcing traders to pay more fees in slippage. Slippage refers to the price difference between the expected price of a transaction and the price at which it’s fully executed. For a $100,000 sell order, the slippage for the BTC-USD pair on Coinbase has climbed by 2.5 times at the beginning of March. While during the same time frame, Binance's BTC-USDT pair's slippage barely moved.
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