bitcoin:native 71500 is a real road block at this point. looks like their is a liquidity gap between 70-60K so it'll be unstable in between. 56K ish is where support might come back in
#CL_F ๐จ Price could move quick! This chart is telling you something that the flat futures price is not. When spread widens and book depth thins at the same time, it means market makers are reducing their willingness to commit capital to provide two sided liquidity. They are doing this for one reason: uncertainty about the true fair value has increased to the point where the risk of being picked off on one side of the book outweighs the reward from the spread. the people who make their living knowing the price better than anyone are saying "we are not sure what this is worth. those ticks could be $20 to $40 per contract round trip in spread cost alone before commissions and slippage.
some weird stuff going on with bitcoin:native futures, starting to look like a large drop i setting up like in november 24, a peak and decline a few weeks later
bitcoin:native 71500 is a real road block at this point. looks like their is a liquidity gap between 70-60K so it'll be unstable in between. 56K ish is where support might come back in