Liquidity Remains Fragile Behind Bitcoin’s Rally as Spot Trading Volume Drops to a One-Year Low

PANews reported on January 6, citing Glassnode data via CoinDesk, that spot trading volumes for bitcoin and altcoins have dropped to their lowest levels since November 2023. Despite the continued price increase, this indicates weak market participation and fragile demand. Since the $1.9 billion liquidation event in October 2025, market depth has not fully recovered and liquidity remains fragile, making prices more susceptible to being moved or reversed by small trades.