Bitcoin Was a Winner During the U.S. Banking Crisis, but Illiquidity Prevents It From Being a USD Hedge

When liquidity is low in any monetary market, volatility is excessive in each instructions. Costs have much less help on each the draw back and the upside. On this occasion, the narrative of bitcoin as a hedge towards monetary calamity gave BTC the push it wanted. However there was little upside resistance to hurdle over: BTC market depth, the variety of orders ready to be stuffed on an order guide, reached 10-month lows this week – that’s decrease than ranges seen because the collapse of the FTX alternate and sister agency Alameda Analysis.