Let's imagine that you are a whale and you have 1M BTC. at this moment it is worth ~$20B. Let's say you want to sell all your BTC, but how much real money can you really get? If you are using a DEX, a liquidity pair pool acts as a market maker, which works according to the AMM formula (see formulas)

In accordance with this formula, you can withdraw no more than $8M on Uniswap. These tokens are the liquidity of the pool.