Bitcoin is holding $26,000 and data points to the end of whipsaw volatility.
As indicated by the Kaiko Data chart, the decline of 2% in the Bitcoin order book depth has mirrored the decrease in volatility. It's possible that market makers adjusted their algorithms to align with the prevailing market conditions.
The first decline took place from March 8 to March 10, causing Bitcoin to plummet by 11.4% to $19,600, marking its lowest point in over 7 weeks. This correction followed theThe subsequent significant movement occurred between April 19 and April 21, resulting in a 10.4% drop in Bitcoin's price. It revisited the $27,250 level for the first time in more than 3 weeks after Gary Gensler, the Chair of the U.S. Securities and Exchange Commission , addressed the House Financial Services Committee.
Conversely, the correction on April 19 had minimal impact on Bitcoin's futures main metric, with the premium remaining around 3.5% as the BTC price revisited $27,250. This could imply that professional traders were either highly confident in the soundness of the market structure or were well-prepared for the 10.4% correction.
Data indicate excessive demand for call BTC options ahead of the August 15 crash, with the indicator at -11%. This trend changed over the subsequent five days, though the metric remained within the neutral range and was unable to breach the 7% threshold.
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