BTC/USD Liquidity

Friday, July 17, 2026

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MARKET DEPTH. EXECUTION QUALITY. PRICE DISCOVERY.

Real-time intelligence on spot volume, exchange depth, bid-ask spreads, slippage, market microstructure, and capital efficiency across the global Bitcoin-dollar ecosystem.

Spot Volume (24H)

$38.7B

+12.4%

Top Exchange Depth (±1%)

$1.92B

+8.1%

Average Spread (10BPS)

2.6 bps

-6.3%

Net Exchange Flow (24H)

-$215.4M

Outflow

Market Impact (1M USD)

6.4 bps

-9.1%

Volatility Regime (30D)

37.1%

+3.7%

How BTC/USD Liquidity Is Measured

1. Order Book Depth

We aggregate bid and ask liquidity across major spot venues to measure depth within 1% of mid price—our primary indicator of market resilience.

2. Spread Quality

We track effective bid-ask spreads across venues and sizes to assess execution quality and competitiveness in real-time.

3. Slippage / Market Impact

We model expected slippage for standard trade sizes to quantify market impact and capital efficiency for institutions.

4. Venue Resilience

We evaluate liquidity consistency, latency, and continuity across venues to identify structurally reliable trading environments.

Exchange Depth by Venue (±1% of Mid)

As of 10:30 UTC

Binance

$412.3M

Coinbase

$298.7M

Kraken

$176.4M

OKX

$154.2M

BY│BIT Bybit

$146.1M

B Bitstamp

$103.9M

0 100M 200M 300M 400M 500M

Spread & Slippage Snapshot

Avg Spread (10bps)

2.6 bps

-6.3%

Est. Slippage (1M USD)

6.4 bps

-9.1%

Est. Slippage (10M USD)

18.7 bps

-7.2%

Market Structure Signals

Spot-Perp Basis (Annualized)

6.2%

+0.8%

Contango

Stablecoin Inflow Support (24H)

$412.3M

+15.6%

Strong

ETF Demand Spillover (24H)

$256.7M

+9.3%

Supportive

Risk Appetite Index

62 / 100

Moderate

Why Liquidity Drives Bitcoin Markets

Execution Quality

Tight aggregate bid and ask books enable institutions to execute with minimal slippage, reducing costs and improving capital efficiency across all market conditions.

Volatility Absorption

Strong liquidity acts as a shock absorber during volatile periods, preventing cascading liquidations and supporting healthier, more resilient markets.

Institutional Allocation

Institutional capital flows require reliable liquidity infrastructure. Deep, transparent markets build confidence and unlock long-term capital commitment.

FEATURED REPORT

Bitcoin Mining & Energy Infrastructure Report 2026

The comprehensive institutional guide to BTC/USD liquidity, exchange depth, stablecoin flows, market microstructure, and the capital dynamics shaping Bitcoin’s next market cycle.

Exchange

Depth Trends

Dollar Liquidity

Outlook

Stablecoin Flow

Analysis

ETF Capital

Impact

Latest Liquidity Insights

Multi-Exchange Data

Aggregated from top-tier spot venues, normalized for accuracy and depth.

Cross-Venue Normalization

Data standardized across venues to ensure fair, apples-to-apples comparison.

Real-Time Monitoring

Continuously updated metrics and alerts across global markets.

Institutional Framework

Built for allocation decisions, risk management, and execution planning.

Transparent Methodology

Clear definitions, open methodology, and full disclosure of data sources.

MARKET DEPTH. EXECUTION QUALITY. PRICE DISCOVERY.