Recently, while organizing data, I noticed an interesting phenomenon—Bitcoin's liquidity has indeed become a bit subtle lately. During the year-end holiday season, trading volume is naturally sparse, the order book depth is significantly shallower than usual, and large orders tend to sweep the market easily. On Christmas Day, a low-liquidity trading pair on a major exchange even flashed to $24,000 before bouncing back instantly, which clearly indicates the market's fragility during holidays.

Looking at the trend over the past two weeks makes it clear. Bitcoin has been oscillating repeatedly between 87k-90k, ETF net outflows have continued for several days, and institutional funds are clearly on the sidelines. The entire market seems to be pressing the pause button, waiting for liquidity to truly rebound next year before taking action. There’s a reason for that.

In the short term, don’t be too aggressive. It’s mainly a volatile market with no signs of systemic collapse. However, once the holiday effect fades and global liquidity indicators continue to improve, Bitcoin often tends to rebound—there are historical cases of reversals after periods of low liquidity. Instead of frequent trading, it’s better to patiently wait for signals.

Getting a bit off-topic. CZ has recently dedicated himself fully to education and charity, with Giggle Academy providing children with free learning platforms, and the Max community has been holding offline events across various locations, truly pushing project implementation. This kind of sustainable ecosystem development is more reliable than just focusing on the thin liquidity during holidays. Interested parties can follow for updates.