Market structure is a specific Trading coordinate in the Bitcoin knowledge graph. In practical terms, it identifies the subject described here: How venues, orders, liquidity, participants and rules interact to form prices. This definition is narrower than promotional usage and should be read together with the implementation, date and evidence attached to the entry.
Market structure 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 structure 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 structure helps distinguish a verifiable Bitcoin mechanism or historical record from slogans, products and market narratives.
Primary or authoritative records make these details checkable: market structure describes the institutions and rules through which bitcoin exposure trades, including spot exchanges, brokers, derivatives, ETFs, custodians, settlement networks and regulatory boundaries. They should be verified before using the coordinate in analysis.
The practical limit is: it is broader than a chart pattern and changes across jurisdictions and time; reported prices, volumes and ownership cannot be combined without resolving venue, product, leverage, custody and settlement differences. A definition, office, chart pattern or published claim is not by itself a prediction or Bitcoin consensus rule.
For the clearest picture, read this entry together with Order book, Lightning liquidity, Price discovery, Market microstructure, Spot market, Bitcoin. The reverse links also lead from Trading, Technical analysis, Market microstructure, Price discovery.