The Architecture of Market Depth: How Liquidity Really Works in Crypto Markets Researcher's Note: This analysis examines 50,526 minutes of orderbook data from Binance's BTC/FDUSD market between July 1 and August 12, 2025, captured via Amberdata's institutional metrics. The dataset tracks market depth at 5, 10, 25, 50, and 100 basis points from mid-price, revealing how liquidity accumulates non-linearly and how bid-ask imbalances distribute across price levels. This research quantifies the structural patterns of electronic market depth to inform institutional execution strategies.
Amberdata Digital Asset Snapshot: Bitcoin ATHs, ETF Shifts, & Global Regulation Last week was defined by historic price achievements and regulatory breakthroughs that fundamentally advanced the cryptocurrency sector's institutional maturation. Bitcoin's surge to a fresh all-time high of $124,000 marked a decisive breakout driven by Federal Reserve pivot expectations and sustained ETF demand, while major regulatory developments, including SEC approval of in-kind ETF redemptions and the UK's reversal of retail crypto ETN restrictions, signaled accelerating mainstream adoption.
Amberdata Derivatives Newsletter: Powell's Rate Cut Signals & ETH Surge Markets surged last week after Powell’s Jackson Hole speech signaled a cautious shift toward rate cuts, driving the VIX to its lowest level of the year. At the same time, crypto markets saw ETH outperform BTC, with volatility dynamics pointing toward altcoins. The weeks ahead could prove pivotal as macro policy and crypto momentum collide.