{"id":11530,"date":"2024-03-12T16:43:04","date_gmt":"2024-03-12T14:43:04","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoins-record-highs-enhance-liquidity-reports-kaiko\/"},"modified":"2024-03-12T16:43:04","modified_gmt":"2024-03-12T14:43:04","slug":"bitcoins-record-highs-enhance-liquidity-reports-kaiko","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoins-record-highs-enhance-liquidity-reports-kaiko\/","title":{"rendered":"Bitcoin&#8217;s Record Highs Enhance Liquidity, Reports Kaiko"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin&#8217;s new all-time high has led to record liquidity depth and a return of trading volumes to 2021 levels.<\/li>\n<li>Tether&#8217;s market capitalization has reached a historic high of $100 billion.<\/li>\n<li>Funding rates remain near peaks, indicating sustained high demand.<\/li>\n<\/ul>\n<\/div>\n<p>The market depth of Bitcoin, in terms of the value of orders within 2% of the order book, reached a record $600 million. This growth coincided with the new <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span>, according to Kaiko.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/USDT?src=hash&#038;ref_src=twsrc%5Etfw\">#USDT<\/a> trade volume on CEXs has increased in line with crypto prices.<\/p>\n<p>However, volumes remain well below their peak of $661bn reached in May 2021, and are about equal to volumes hit during the last bull market.<\/p>\n<p>So why is market cap at all time highs? <a href=\"https:\/\/t.co\/L5hKBU7y46\">pic.twitter.com\/L5hKBU7y46<\/a><\/p>\n<p>\u2014 Kaiko (@KaikoData) <a href=\"https:\/\/twitter.com\/KaikoData\/status\/1767505857586278728?ref_src=twsrc%5Etfw\">March 12, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts noted that the number of <span data-descr=\"ask orders\" class=\"old_tooltip\">asks<\/span> significantly exceeded the number of <span data-descr=\"bid orders\" class=\"old_tooltip\">bids<\/span>. This divergence is the strongest since early 2021.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-948.webp\" alt=\"1-948\" class=\"wp-image-228115\"\/><figcaption class=\"wp-element-caption\">Data: Kaiko.<\/figcaption><\/figure>\n<p>This situation indicates traders are taking profits as the all-time high is reached, specialists added.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-738.webp\" alt=\"2-738\" class=\"wp-image-228116\"\/><figcaption class=\"wp-element-caption\">Data: Kaiko.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>How Many Bitcoin Millionaires Are There?<\/strong><\/h2>\n<p>On-chain analysis revealed a relatively slow increase in the number of new Bitcoin millionaires. During the current rally, the daily increase in holders of seven-figure dollar amounts remained below 2,000. In comparison, in 2021, these rates reached 4,000 wallets; for eight-figure amounts, it was 2,000 addresses.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/3-434.webp\" alt=\"3-434\" class=\"wp-image-228117\"\/><figcaption class=\"wp-element-caption\">Data: Kaiko.<\/figcaption><\/figure>\n<p>Experts highlighted three reasons:<\/p>\n<ol class=\"wp-block-list\">\n<li>New capital has yet to fully manifest.<\/li>\n<li>Whales are taking profits.<\/li>\n<li>Large players store coins on centralized platforms rather than in non-custodial wallets.<\/li>\n<\/ol>\n<h2 class=\"wp-block-heading\"><strong>Tether&#8217;s Records<\/strong><\/h2>\n<p>Kaiko noted that USDT reached a record $100 billion in market capitalization. These peak values did not lead to increased trading activity\u2014turnover remained significantly below the $661 billion peak in May 2021, and its share in the total volume decreased. Analysts found no explanation for this.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/4-277.webp\" alt=\"4-277\" class=\"wp-image-228118\"\/><figcaption class=\"wp-element-caption\">Data: Kaiko.<\/figcaption><\/figure>\n<p>On March 5, Bitcoin trading volume on spot platforms reached $51 billion, surpassing the levels of the 2021 bull market.   <\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/5-176.webp\" alt=\"5-176\" class=\"wp-image-228119\"\/><figcaption class=\"wp-element-caption\">Data: Kaiko.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>Bulls Hold Firm<\/strong><\/h2>\n<p>On March 4, open interest in perpetual contracts for digital gold surged by nearly $2 billion to a multi-year high of $15 billion, before dropping by $1.4 billion the next day. The persistence of funding rates near peaks indicates sustained demand for the asset, specialists concluded.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/6-125.webp\" alt=\"6-125\" class=\"wp-image-228120\"\/><figcaption class=\"wp-element-caption\">Data: Kaiko.<\/figcaption><\/figure>\n<p>Weekly inflows into crypto products reached a record $2.69 billion, according to CoinShares.<\/p>\n<p>Earlier, IntoTheBlock <a href=\"https:\/\/forklog.com\/en\/news\/five-catalysts-that-could-propel-bitcoin-beyond-70000\">identified<\/a> five factors that could push Bitcoin&#8217;s price above $70,000 in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s new all-time high has led to record liquidity depth and a return of trading volumes to 2021 levels. Tether&#8217;s market capitalization has reached a historic high of $100 billion. Funding rates remain near peaks, indicating sustained high demand. The market depth of Bitcoin, in terms of the value of orders within 2% of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1261,1145,1150,1268,1245],"class_list":["post-11530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-kaiko","tag-market-analysis","tag-news-plus","tag-on-chain-analysis","tag-tether-usdt"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11530"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11530\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11529"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}