The price of the No.1 cryptocurrency has jumped 40% to around $27,700 since March 10, when the failure of Silicon Valley Bank careered into mainstream markets.Bitcoin's market depth indicates the asset is at its lowest level of liquidity in 10 months, even lower than in the aftermath of the FTX collapse in November, according to data provider Kaiko.
The slippage for a simulated $100,000 sell order has doubled in the past month, meaning the average price you get for each bitcoin is worse than a month ago, Kaiko said.of Silvergate Capital and Signature Bank, whose networks had long been used by market makers - which expand liquidity by rapidly buying and selling tokens - to transact with exchanges.
Liquidity for the bitcoin-tether pair on Binance has dropped 70% since the announcement, while trading volumes have fallen 90%, according to Kaiko data. Until then, "liquidity is probably going to get worse and worse", said Joseph Edwards, investment adviser at Enigma Securities.
Source: Digital Coin News (digitalcoinnews.net)
On the offer side certainly
How's the liquidity of US banks these days? Oh right, the Fed is backstopping it out of thin air.
Media is seriously trying to kill crypto this bear cycle. They've all stepped up their games versus previous bear market attempts.
Nothing to worry for btc.. rip banks, fact!
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