bitbybit on Nostr: A market maker sells 1 Bitcoin to you. To offset that trade they buy 45 ETH. They ...
A market maker sells 1 Bitcoin to you. To offset that trade they buy 45 ETH. They then buy the BTC-ETH spread or sell the ETH-BTC spread. They now have no position and net some $.
If you pull these spread markets up on coinbase or binance you can see the trades going through. The reason BTC is priced in dollar terms is because of shitcoin markets. If there were not shitcoins there would be no dollar market for bitcoin.
Published at
2025-03-30 18:35:27Event JSON
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"content": "A market maker sells 1 Bitcoin to you. To offset that trade they buy 45 ETH. They then buy the BTC-ETH spread or sell the ETH-BTC spread. They now have no position and net some $. \n\nIf you pull these spread markets up on coinbase or binance you can see the trades going through. The reason BTC is priced in dollar terms is because of shitcoin markets. If there were not shitcoins there would be no dollar market for bitcoin.",
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