coin-img-ETHETH-4.10%coin-img-BTCBTC-2.64%coin-img-SENTSENT-5.23%coin-img-SOLSOL-6.10%coin-img-SKRSKR-22.76%coin-img-XRPXRP-3.50%coin-img-USDCUSDC-0.04%coin-img-DOGEDOGE-3.06%coin-img-ETHETH-4.10%coin-img-BTCBTC-2.64%coin-img-SENTSENT-5.23%coin-img-SOLSOL-6.10%coin-img-SKRSKR-22.76%coin-img-XRPXRP-3.50%coin-img-USDCUSDC-0.04%coin-img-DOGEDOGE-3.06%coin-img-ETHETH-4.10%coin-img-BTCBTC-2.64%coin-img-SENTSENT-5.23%coin-img-SOLSOL-6.10%coin-img-SKRSKR-22.76%coin-img-XRPXRP-3.50%coin-img-USDCUSDC-0.04%coin-img-DOGEDOGE-3.06%coin-img-ETHETH-4.10%coin-img-BTCBTC-2.64%coin-img-SENTSENT-5.23%coin-img-SOLSOL-6.10%coin-img-SKRSKR-22.76%coin-img-XRPXRP-3.50%coin-img-USDCUSDC-0.04%coin-img-DOGEDOGE-3.06%
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Andjela Radmilac

Bitcoin liquidity layers reveal fragile depth as intraday trading conditions shift by the hour

The article explains how Bitcoin’s real execution cost is driven by liquidity across spot books, derivatives, ETFs, and stablecoin rails rather than headline volume. It outlines how 1% market depth, intraday variations in order book strength, leverage in perpetuals and futures, and ETF flows can all amplify slippage and price gaps. When these liquidity layers weaken together, institutions may still gain exposure but adapt by using wrappers, hedges, and avoiding thin trading hours.
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