#比特币流动性危机

The Bitcoin liquidity crisis refers to a significant reduction in the number of Bitcoins available for free trading in the market, making it difficult for buyers and sellers to complete large transactions without causing significant price fluctuations. The causes include: long-term holders (HODLers) hoarding coins, institutions and enterprises storing BTC in cold wallets, ETFs and other long-term investment tools absorbing a large supply, and miners' halving. When liquidity is exhausted, even relatively small buy and sell orders can trigger severe price fluctuations, exacerbating market instability and, in extreme cases, causing rapid price surges or crashes.