Crypto markets face a number of issues including low liquidity, a crackdown on the industry from regulators in the U.S. and macroeconomic headwinds.
Bitcoin is facing a number of headwinds including low liquidity which is contributing to volatility. U.S. regulators are also heavily scrutinizing the crypto industry.traded at its lowest level since mid-March on Friday as volatility, driven by low liquidity, continued to hit cryptocurrency markets.
Bitcoin was trading at $26,312.23 at around 5:09 a.m. ET, after dipping below the $27,000 mark on Thursday, according to CoinDesk data. That's its lowest level since Mar. 17.There are a number of issues facing crypto markets right now including low liquidity, a crackdown on the industry from regulators in the U.S. and macroeconomic worries.Bitcoin is up around 59% this year but prices have remained volatile, with low liquidity exacerbating moves higher and lower.
Clara Medalie, director of research at Kaiko, said there has been a "notable drop in market depth" for bitcoin. Market depth refers to a market's ability to absorb relatively large buy and sell orders. When market depth is low, then relatively small orders can cause the price of an asset to move up or down in a substantial way.that Jane Street and Jump Crypto, two of the biggest crypto market makers, will take a step back from crypto trading in the U.S. as the country's regulators continue their crackdown on the nascent industry.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Large Immersion Cooled Crypto Mining Farms to Extract Bitcoin in Middle East Desert – Mining Bitcoin NewsA project to build two large-scale facilities for cryptocurrency mining is underway in the United Arab Emirates.
Read more »
Bitcoin falls below $27,000 as U.S. regulatory crackdown pressures crypto's biggest market makersCrypto prices slid on Thursday as investors weighed Jane Street and Jump Crypto's pull back from U.S. trading.
Read more »
Philippines Law Enforcement Busts Crypto Scam Center, Over 1,000 Human Trafficking Victims Rescued – Regulation Bitcoin NewsTrafficking victims reportedly forced to perpetrate cryptocurrency scams during shifts that lasted up to 18 hours per day. lawenforcement cybercrime
Read more »
Miami’s Love Affair With Crypto Is Souring as Bitcoin Faithful Flock to the CityOn the eve of the annual Bitcoin 2023 conference, the city and its mayor have mostly moved on from crypto, as skepticism toward digital currencies rises across the U.S.
Read more »
Biggest Movers: TRON Nears Crypto Top 10, as MATIC Extends Declines – Market Updates Bitcoin NewsTron moved closer to being in the cryptocurrency top 10 on Wednesday, as the token rose for a second straight day.
Read more »
Iran Shuts Down Over 8,000 Illegal Crypto Mining Farms in 3 Years – Mining Bitcoin NewsAuthorities in Iran have closed down more than 8,000 underground facilities for cryptocurrency mining in the past three years.
Read more »