Crypto market faces liquidity crunch
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After a euphoric summer, the crypto market is now running out of steam. Bitcoin has fallen back below $100,000 and investors seem to be digesting both the shock of 10 October and an overall slowdown in inflows. The cause: a shortage of liquidity, the real fuel for crypto cycles.

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Grégory Raymond

Grégory Raymond is Head of Research and co-founder of The Big Whale. A specialist at the intersection of traditional finance and digital assets, he has been covering the regulatory, institutional and technological developments of the sector since 2017 for an audience of decision-makers: banks, asset managers and fintechs. He is also the author of Bitcoin & Cryptos: L'enjeu du siècle (Talent Éditions, 2025), a book built around interviews with key figures from the ecosystem.

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