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Before You Trade Bitcoin, You Need To Know The Market Makeru/millennial avatar � millennial � 3y ago. implied volatility is % less market making makes for huge spreads. Upvote 6. Downvote Reply. Still, I have a pretty fast program. My thought was that crypto markets should still be shaggy, have a lot of spikes. I have tried coins with. Is it from other traders that just went short and are now losing money? Because that is like in the spot market but in the futures markets you.