Kaiko: The largest liquidation event in the cryptocurrency market has still not fully recovered a year later

The cryptocurrency market data agency Kaiko stated that one year after the largest liquidation event in the crypto market, the market has not fully recovered.

Kaiko noted that in terms of Bitcoin, the open interest of Bitcoin perpetual contracts is still about 16% lower than pre-crash levels, while the spot depth in USD is down 27%. The decline in leverage is faster than the decline in liquidity, with leverage corresponding to each dollar of market depth being 20% lower than before October 10.