Bitcoin Liquidity on Binance Plummeted During the ETF Rumor-Induced Market Rollercoaster: Kaiko

The 0.1% ask depth on Binance, a measure of buy-side liquidity, crashed to just 1.2 BTC ($30,000) from 100 BTC as volatility exploded after a false report of BlackRock’s (BLK) spot exchange-traded fund (ETF) approval circulated on social media. The leading cryptocurrency popped 7.5% to $30,000 in a knee-jerk reaction to the rumor, only to give up gains after BlackRock denied the report.

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