If we pay attention to the transaction volume of Bitcoin in the spot and derivative markets in 2023, we will notice that there is a significant decrease in liquidity in the Bitcoin market. Since March 2023, trading volume of Bitcoin derivatives has fallen sharply by 73%, while spot transactions have experienced a more dramatic decrease of 94%. Bitcoin's trading volume in the spot and futures markets is one of the most critical components in ensuring liquidity to support price growth. The significant decrease in recent months indicates a critical and dangerous situation in the current market.