Crypto Price Momentum Falters as Bitcoin BTC Price Retreats to $23.5K

“Crypto liquidity is dominated by just a handful of trading firms, including Wintermute, Amber Group, B2C2, Genesis, Cumberland, and (the now-defunct) Alameda. With the loss of one of the largest market makers, we can expect a significant drop in liquidity, which we will call the “Alameda Gap,” Kaiko wrote in a November briefing note.