Daily volume of $16b according to what? The ledger? If coinbase moves 10,000 bitcoins to a different wallet, you see that as a transaction. If I move all my Bitcoin from coinbase to a private wallet then back to coinbase, you would see those as separate transactions on the ledger as well.
There is not $16b in daily liquidity in the BTC market right now.
Moving money from one pocket to the other over and over all day long is not a sign of liquidity.
No, I'm not talking about transactions on the blockchain. I'm talking about trading volume on exchanges. That $16B figure does sum up trading in all BTC currency pairs including altcoins. BTC/USD daily volume alone is around $2B. KRW, JPY and EUR also have significant volume. https://coinmarketcap.com/currencies/bitcoin
There is not $16b in daily liquidity in the BTC market right now.
Moving money from one pocket to the other over and over all day long is not a sign of liquidity.