The liquidity crisis of #比特币流动性危机 may lead to increased transaction costs and heightened price volatility. During the cryptocurrency crash on August 5, 2025, the price of Bitcoin on Binance US showed discrepancies compared to prices on platforms with stronger liquidity, with some exchanges and trading pairs experiencing increased Bitcoin slippage. From a more macro perspective, the Bitcoin liquidity crisis could also trigger a ripple effect throughout the entire cryptocurrency market, leading to a decline in market confidence, capital outflows, and even some spillover effects on traditional financial markets.