“Aggregated 2% BTC market depth has dropped by almost half to around 8,000 BTC from 14,000 BTC at the end of October,” analysts at Bitfinex, one of the top 10 centralized cryptocurrency exchanges by volumes, wrote in the Jan. 9 issue of the market report. “In other words, a large order of the same USD value or size placed today will have more than twice the impact on price in contrast to two months ago.”
Related posts
-
Bitcoin (BTC) Price Tops $77K Record as Muted Funding Rates Suggest Crypto Rally Has More Room to Run
While crypto assets booked double-digit gains during this week, with BTC sitting at record highs, funding... -
Jack Dorsey’s Block Bets Big on Bitcoin Mining
Block, Inc. has outlined a strategic pivot to expand its presence in bitcoin mining, signaling a... -
Bitcoin Skyrockets to Historic $77K – BTC Short Sellers Take a $24M Hit
At precisely 2:30 p.m. ET on Friday, bitcoin reached...