A token’s liquidity isn’t something I can judge just by looking at the buy side.

I’m more interested in something else: if everyone changed their mind at the same time, would that token still be able to hold together?

Because liquidity is easy to believe in when everyone wants to buy. The real test starts when everyone wants out at once.

That’s when some tokens don’t just fall in price. They reveal how much real demand was actually inside them.

So instead of asking how many buyers a token has, I find it more interesting to ask how many people could be wrong at the same time and still get out without breaking the market.

Maybe real liquidity isn’t the amount people are willing to buy.

Maybe it’s how much the market can absorb when people realize they were wrong. $BTC