Citadel Securities is one of the largest market makers in traditional markets. Their business model is based on providing liquidity, not speculation. Now they have come to Bitcoin. Why?

1. Where there is liquidity, there is money.

The market maker earns money on the spread between buying and selling. Bitcoin is one of the most liquid assets in the world, and with the advent of Bitcoin ETFs, trading volumes have increased even more. Citadel just took its share of the pie.

How does it work?

• They place buy and sell orders, constantly balancing the market.

• The larger the volume of transactions, the greater the earnings on the spread.

If bitcoin is volatile, the market maker is even better off: he updates orders faster and earns more.

2. Entering the new financial infrastructure

After the approval of the Bitcoin ETF, institutions began to enter the market. Citadel understands that this is a new asset class that is becoming mainstream, and does not want to remain on the sidelines.

They don't believe in bitcoin so much as they want to control price movements through market making.

3. Manipulation and price control

Citadel is known for using algorithmic trading, squeezing profits from millisecond price movements.

What does it mean?

• They can absorb liquidity, creating the illusion of supply or demand.

• Knock out stops by collecting liquidity before reversals.

• Understand where retail is sitting and strategize against the crowd.

Simply put, they don't just make money on the spread, but they can control market movements.

4. Regulatory relations and influence

Citadel is closely linked to the traditional financial system. If they came to Bitcoin, it means:

• The market will become more centralized.

• Manipulation and control of liquidity will increase.

• Retail players will find it harder to win.

Benefits for Citadel

1. Profit on market-making (spread + volumes).

2. Liquidity control → more opportunities for arbitrage.

3. An insider's understanding of the market (they see capital flows in real time).

4. Influence on the price of BTC and ETFs, which allows them to earn not only inside the market, but also through options, futures and other instruments.

Citadel did not come to bitcoin to "believe" in it. They came to control liquidity, manipulate prices and make money on all movements.

This is a signal that the crypto market has already become part of the traditional financial system, and the struggle for control over it is just beginning.