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Bitcoin’s Market Depth Increased by 16%, What Does It Mean?

Published 02/22/2024, 01:38 AM
Updated 02/22/2024, 01:45 AM
© Reuters Bitcoin’s Market Depth Increased by 16%, What Does It Mean?
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  • Crypto data provider Kaiko announced a 19% increase in Bitcoin market depth.

  • The data provider reported an increase in Bitcoin trade volume.

  • Net inflow into Spot Bitcoin ETFs was $135 million on February 20.

With Bitcoin maintaining its position above $50,000, recent data indicates an increase in market depth. Despite experiencing a dip to $38,555 after the launch of spot Bitcoin ETF products on January 11, BTC later recovered.

According to a report released by crypto data provider Kaiko, Bitcoin’s market depth has increased by 19% since the beginning of 2024. Kaiko shared this report on X, saying, “Is liquidity back for good?” According to Kaiko, market depth is defined as the market’s ability to sustain relatively large market orders without impacting the asset’s price.

The report shared on February 19 showed the increase in Bitcoin’s volume, which is depicted in a graph. The graph illustrates a surge in Bitcoin trade volume when spot Bitcoin ETFs in the United States commenced trading.

Bitcoin Tr…The post Bitcoin’s Market Depth Increased by 16%, What Does It Mean? appeared first on Coin Edition.

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