Bitcoin (BTC) plunged early this month to nearly $60,000, wiping out large chunks of value across the crypto market and vaporizing some trading funds. Most observers pinned the slide on macro forces, including the capitulation of spot ETF holders (and potential rumors of funds blowing out their positions). Yet another, quieter force, one that typically keeps trading running smoothly, likely played a major role in crashing the spot price lower. That force is the market makers, or dealers, who continuousl ...