According to Skew's data, the liquidity of head derivatives exchanges is picking up as transaction volumes stabilize. The $ 10 million bid / ask spread on the Bitcoin futures contract on the derivatives platform BitMEX has dropped significantly. In the last days of February, Bitcoin dropped by more than $ 700, and the spread of BitMEX exceeded 0.3%, well above the average of 0.23%. This low liquidity, coupled with a reduction in open positions, indicates that traders quickly closed positions when prices were expected to fall. However, the situation has reversed since March 1. The bid / ask spread has continued to decline, from 0.3% to 0.21%, and even below the average of 0.23. A similar drop in liquidity has also appeared on Binance. As of press time, its spread had fallen from 0.87% to 0.51%, resulting in increased liquidity. The spread on another derivatives exchange, FTX, has fallen from 0.82% to 0.76% since the end of last month.