The integration of spot Bitcoin exchange-traded funds into traditional capital markets has fundamentally altered market liquidity. Institutional participation now drives daily volume, dampening weekend volatility while increasing sensitivity to macroeconomic data releases.
Shift in Liquidity Centers
Liquidity has concentrated around standard US market trading hours, reducing bid-ask spreads on major domestic spot venues. Market makers note that OTC trading desks are handling larger block transactions, shielding public order books from immediate price slippage.