Markets· ★★★· neutral·

One year after 10/10: bitcoin and ether liquidity rebuilt, altcoins still eroding

  • —Bitcoin's order book depth within 1% of price is about $11.7 million, roughly 75% more than on crash day
  • —Ether's depth within 0.5% of price has more than doubled to about $4.2 million
  • —Altcoin depth within 5% of price is down about a third since early 2025, to around $2 million
  • —Weekly spot volume on CEXs is about $279 billion versus $801 billion in the crash week
Why it matters: Liquidity is concentrating in BTC and ETH, leaving altcoins exposed to sharper moves and slippage.
Source: CoinDesk