Bitcoin liquidity is a key indicator of its market trading activity, relying on high trading volumes from global exchanges such as Binance and Coinbase. Mainstream platforms have an average daily trading volume exceeding one billion USD, making large buy and sell orders less likely to cause severe price fluctuations and attracting both institutional and retail participants. However, in extreme market conditions (such as crashes or regulatory shocks), liquidity may sharply decline, leading to slippage or flash crashes. Its 24/7 trading feature enhances convenience but is also influenced by policies and market sentiment, requiring vigilance against the risk of localized imbalances caused by liquidity stratification.