📉 $BTC #Kaiko : In recent months BTC has underperformed GOLD, closely mirroring risk assets during the August selloff.

As a result the BTC-to-Gold ratio has plunged to 24 ounces per BTC from 33 in March.

📊 #Kaiko : Over the past decade, $BTC and Gold have shown weak correlation, which may indicate that the drivers of demand for gold are different from the drivers of demand for Bitcoin.

📊 #Kaiko : The average $BTC trade size reached a multi-month high of $1.3K.

📊 #Kaiko : Funding rates for $BTC perps turned negative for the first time since late 2023 in the lead up to the halving.

📊 $BTC #Kaiko report:
▫️ BTC market depth of 2% for BTC-USD and BTC-USDT trading pairs, aggregated across 14 exchanges, has yet to recover to >10K BTC levels (pre-FTX crash), suggesting market makers have not returned in full force;
▫️ However, since the end of December the depth has increased slightly, approaching 4 thousand BTC for the first time in more than a month;
▫️ Binance market share is restored after settlement.

By dump #OKB: Supply-side market depth increased in the hours before the price drop, which may indicate market makers were preparing for upcoming volatility, which is not entirely consistent OKX excuses.

🔎 #Kaiko analysts note that $SOL continues to exhibit a lower market depth to volume ratio on centralized exchanges than $BTC and $ETH

Simply put, SOL now has a lower probability of large trades impacting the price

📊 #Kaiko records growth of average $BTC transaction volume on CEX

📊 $ETH #Kaiko : Despite having slower price action than Bitcoin and many altcoins, Ethereum has shown significant improvements in global centralized exchange liquidity.

📊 $BTC #Kaiko : cumulative volume delta (CVD) indicates that selling pressure started to build up towards the end of the Asian trading sessions on Binance and Bybit before spreading to other markets.

🔎$BTC #Kaiko 's cumulative volume delta shows that last week's sell-offs were mainly concentrated in USDT markets (orange curve).

There was almost no selling pressure from USD markets (blue curve).

📈 #Kaiko : $USDC market share on the CEX has doubled over the past year, reaching its highest level since 2021 last week.

📊 #Kaiko notes the significant loss of #USDT 's share of the stackcoin market on CEX (from 95% at the end of 2020 to 71% now).

$FDUSD , which is mostly traded on Binance, has added the most recently, taking a 21% share.

📊 $BTC #Kaiko : BTC Total Volume Delta (CVD) on Binance has risen over the past week, indicating strong market buying.

📊 #Kaiko : $BTC is now more volatile than $ETH , and the gap between their 30-day volatility metrics has reached a multi-year high.

📈 $BNB #Kaiko : Binance's market share among exchanges shows signs of recovery

📊 #Kaiko report:
▫️ $BTC market depth of 2% improves, suggesting market makers are starting to return;
▫️ BTC market share on US exchanges compared to global exchanges has increased consistently since November, exceeding 50% since the end of 2023;
▫️ Both institutional and retail trading volumes on Coinbase began to increase, with growth driven primarily by altcoin transactions, which accounted for 42% of total trading volume, while BTC and ETH fell to 31% and 15% respectively.

Во время роста биткоина этой ночью почти 50% торгового объема на спотовом рынке пришлось на биржу OKX, сообщили аналитики Kaiko.
#Kaiko

📊 #Kaiko : $BTC implied volatility for April expiry soared from 62% to 75% over the weekend, hinting at short-term price turbulence ahead.

Crypto data provider #Kaiko to relocate Asian HQ to 🇭🇰 Hong Kong amidst positive #crypto policy signals.

#crypto2023 #BTC #dyor

#Kaiko , a Paris-based cryptocurrency market data provider will relocate its Asian headquarters to Hong Kong from Singapore for better opportunities in the city's digital asset market.

#bullmarket #hongkongweb3 #BTC #crypto2023