Do you try to compare the liquidity on all the orderbook of different major exchange to established a conclusion?
Having a thin orderbook usually imply that theres less traders during holiday but that doesnt mean the price will dump since theres no big movement on either side. I really want to see same analysis with comparison on multiple exchange orderbook liquidity. This is a good basis to determine if theres already a trend built-up or the thin orderbook just a result of the CEX reputation itself like what happened on Binance which user remove there balance due to fear on losing money.