Mitchnick said debt and deficit concerns have increasingly pushed investors toward Bitcoin and gold. Those assets can attract attention when investors question the purchasing power of fiat currencies. Bitcoin has since moved below $80,000 after recording its strongest three-day rally since 2023. Even so, exchange liquidity remained substantial during the sharp advance.
August usually brings thinner trading conditions across crypto and traditional as Northern Hemisphere trading desks reduce activity. Despite that seasonal effect, Bitcoin’s order-book depth remained relatively stable.
Ether and Solana showed similar conditions. Their 0.5% market depth on Aug. 25 exceeded the levels recorded in October, according to the data described by CoinDesk Research.
Liquidity could also change as traders return from summer holidays. For now, the latest depth figures show that major spot exchanges maintained sizable order books throughout Bitcoin’s rapid advance.