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BitMEX: October Crash Leads to Record Low Order Book Depth, Ending Era of Easy Profits in Crypto Market
Summary: BitMEX reported on Thursday that last year's October crash marked the end of the era of 'easy profits' in the crypto market. The crash on October 11 wiped out $20 billion, causing market makers to withdraw liquidity in the fourth quarter, leading to the lowest order book depth since 2022. Arbitrage strategies in the spot ...
BitMEX reported on Thursday that last year's October crash marked the end of the era of 'easy profits' in the crypto market. The crash on October 11 wiped out $20 billion, causing market makers to withdraw liquidity in the fourth quarter, leading to the lowest order book depth since 2022. Arbitrage strategies in the spot and futures markets are 'overcrowded,' with funding rates dropping to 4%, yielding lower returns than US Treasury bonds. The report notes that trading volume is 'aggressively shifting' to high-performance on-chain perpetual contract platforms like Hyperliquid.
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Link: BitMEX: October Crash Leads to Record Low Order Book Depth, Ending Era of Easy Profits in Crypto Market [Copy]
