Every month Bitcoin reminds everyone who’s in charge:
–15% candles, multiple times, no warning.
Alts follow like it’s a group project. Liquidity disappears. Spreads explode. And suddenly your “solid strategy” turns into execution hell.
The Real Cost Isn’t Fees 💸
For a long time I thought:
Turns out - that’s just the visible part.
The real damage comes from:
- spread – buying higher, selling lower
- slippage – getting worse fills than expected
And both are напрямую tied to one thing: liquidity.
When the market gets shaky, order books thin out →
your trades get worse → your losses quietly grow.
Where Market Making Comes In 🧱
Market Making (MM) isn’t about predicting direction.
It’s about keeping the market functional.
When a pair has active market makers:
- spreads stay tighter
- order books remain filled
- slippage is reduced
So even if BTC is nuking the chart, you’re not getting completely destroyed on execution.
Same fee.
Better fills.
Less hidden loss.
Why It Matters During Dumps ⚡️
In calm markets, liquidity looks fine everywhere.
In volatile markets, you see the truth.
Pairs without MM:
- empty books
- huge wicks
- painful entries/exits
Pairs with MM:
- consistent depth
- tighter spreads
- smoother execution
That difference compounds fast, especially if you’re trading size.
It’s Not Just Theory 📊
Tyler McKnight ran some interesting calculations showing how Market Making maintains liquidity and keeps order books usable even when BTC and alts are moving like it’s the end of the world.
If you’ve ever wondered why your trades feel “heavier” during volatility, his breakdown is worth checking out.
The Takeaway 🧠
You can’t control the market.
But you can control where you trade and how liquidity behaves.
Fees are what you see.
Liquidity is what you feel.
And Market Making is what makes the difference between the two 🚀
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