Bitcoin Absorbs Market Depth as Altcoin Liquidity Contracts, CoinGecko Study Shows

Bitcoin's spot order book depth surged by nearly 50% between July 6 and September 3, 2026, while major altcoins experienced sharp liquidity declines, according to CoinGecko Research. The study of eight exchanges revealed Solana's aggregate depth contracted roughly 29% from $28 million to $20 million, and Ethereum's depth fell to 35–45% of Bitcoin's levels from over 60% previously. Dogecoin registered only $9 million to $12 million in depth within a ±2% range. Separately, MEXC led immediate market-price liquidity for Solana at $934,000 and Dogecoin at over $443,000.