Bitcoin might be astounding investors with its double-digit rally this year, but liquidity in crypto markets remains desiccated.
One measure of how easily the largest cryptocurrency can be bought or sold has fallen to 10-month lows, according to Conor Ryder at Kaiko, who summed up the bids and asks within the 2% range of the price on both sides of market maker order books. The liquidity dropoff is happening due to the firms that buy and sell crypto losing access to dollar-payment systems.
