A dealer continuously quoting buy and sell prices, supplying immediacy while managing inventory and hedging risk.
Market maker is best understood as part of a system rather than as an isolated definition. Its related coordinates show the mechanisms, incentives and historical records that give the term practical meaning.
Market maker describes how participants value, trade or obtain exposure to bitcoin. Market behavior can affect adoption and mining economics, but it does not rewrite consensus rules. Price evidence and protocol evidence answer different questions.
Understanding Market maker helps distinguish a verifiable Bitcoin mechanism or historical record from slogans, products and market narratives.
For the clearest picture, read this entry together with Lightning liquidity, Bid–ask spread, Authorized participant, Institutional OTC desk, Price discovery. The reverse links also lead from Authorized participant, Cash creation model, Options on spot Bitcoin ETPs, Options.
Linked to related atlas coordinates
Grounded in a source record
Explains function and trade-offs
Part of the open Bitcoin knowledge graph