The Hidden Market Structure Behind Bitcoin

About this episode

David Lawant discusses the hidden market structure behind Bitcoin, including price dynamics and the influence of institutional players.

▬▬▬ DISCUSSION ▬▬▬▬▬▬▬▬▬▬ 💬Join the discussion on Telegram: https://t.me/+OgDv1Djbvs80M2Fk ▬▬▬ EPISODE ▬▬▬▬▬▬▬▬▬▬ In this in-depth interview, David Lawant, head of research at Anchorage Digital, shares his insights on Bitcoin market structure, price formation, and the role of institutional players. Discover how order books, arbitrage, and market regimes influence Bitcoin's price and liquidity. Follow David Lawant 👉 https://x.com/dlawant ▬▬▬ SUPPORT ▬▬▬▬▬▬▬▬▬▬ ⚡️LNMS on Lightning: lnms@ln.mtpelerin.com ₿ BTC-Address: bc1qmk7gfdnrdegnmnrtnacj6rslan0y6v29kdlf9p 💵 https://buy.stripe.com/9B600k5Tscv33Ue4zRdby00 Twint: https://go.twint.ch/1/e/tw?tw=acq.Z7L1opJwS72nbGgEMY4w3ILkf67JAEyEFmXrtoKoUbONWSsjLDDQIhNx5ReanPy7 . ▬▬▬ LINKS ▬▬▬▬▬▬▬▬▬▬ 📰 LNMS Newsletter: https://lessnoisemoresignal.substack.com/ 🎧 LNMS on Apple: https://tinyurl.com/4apksnyn 🎧 LNMS on Spotify: https://tinyurl.com/ttha8kku 🎧 LNMS on Rumble: https://tinyurl.com/4k96c7tw 🎧 LNMS on Fountain: https://tinyurl.com/5dsbbj5p 🌐 LNMS Website: https://www.lessnoise-moresignal.com/ 📖 Bitcoin Book: https://www.amazon.de/dp/1967693013 🎧 LNMS on YouTube: https://tinyurl.com/4jfhr4zn ▬▬▬ SOCIALS ▬▬▬▬▬▬▬▬▬▬ Follow on X👉…

People in this episode

Host: Pascal

Guest: David Lawant

Topics covered

• Bitcoin
• market structure
• price formation
• institutional players
• liquidity
• arbitrage

Keywords

• Bitcoin
• market structure
• price formation
• institutional players
• arbitrage
• liquidity

Mentioned in this episode

Organizations: Anchorage Digital

More episodes of Less Noise, More Signal

• The Biggest Headwind for Bitcoin Is Not Strategy · June 11, 2026 · 49 min
• Bitcoin Is Not Just Digital Gold Anymore · June 9, 2026 · 34 min
• The Strategy Bitcoin Sale Everyone Misread · June 6, 2026 · 11 min
• Why Strategy Selling Bitcoin May Actually Be Bullish · June 4, 2026 · 43 min
• Why there are no Real Buyers Left in the Bond Market · June 2, 2026 · 13 min
• The Formula One Rule for Building Wealth · May 30, 2026 · 13 min