Liquidity still dominates the market, but cryptocurrency trading is beginning to be influenced by more noise, idiosyncrasies, and industry-specific drivers. 💡Since 2018, liquidity has explained approximately 80% of the movements of BTC and the top 200 indices. 💡However, after 2023, the rules of the game change: R² values weaken, while elasticity strengthens. In other words: the tape is noisier, but when liquidity arrives, volatility is more pronounced. New report released by @RealVision: "Heavy Now, Stronger Next" Cryptocurrency index data from @BitformanceTeam