Coinbase and Cumberland, two major players in the crypto market, have downplayed reports of a decline in bitcoin (BTC) market liquidity. Crypto data analysis firm Kaiko had reported a significant drop in BTC market depth on Coinbase, indicating a decline in liquidity. However, both Coinbase and Cumberland have stated that trading conditions remain stable and that they have not seen a material change in BTC liquidity. Kaiko suggested that the drop in liquidity may have been due to market expectations and stated that liquidity has since recovered. Other exchanges also experienced a drop in liquidity, indicating that overall liquidity on U.S. exchanges remained below pre-lawsuit levels.



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