lost 3.1% to trade at $1,793.82. They're on pace to end the week down more than 8% and 9%, respectively.that Jane Street and Jump Crypto, two of the biggest crypto market makers, will take a step back from crypto trading in the U.S. as the country's regulators continue their crackdown on the nascent industry. CNBC's "Crypto World" reached out to the firms. Jane Street declined to comment, and Jump did not respond.
"In general, we're going to see much larger swings in price both ways since so many large market makers have significantly reduced providing," said David Wells, CEO of Enclave Markets. "Larger market makers create more stability in prices due to the liquidity they provide," he added. "You'll see more frequent gaps up and down since order books are thinner in general.
Chart analysts have been watching $25,200 as a key threshold before worrying about a more meaningful drop down.
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