Thoughts on this chart? Someone from Reddit mapped it out. looks like $400m worth of selling may have been what brought the price down from 20k to 6k. It seems strange because the daily volumes are $10bn+ so you would think they could have avoided pushing the market down by spreading out the sells
There's no dark pools in these markets (or at least, none that are liquid enough) so realistically speaking, selling a big lot like that would affect price regardless as other people can see all the orders go through. Add in the fact that liquidity is so fragmented and it's fairly difficult to sell such a huge lot without impacting the market regardless. Also, I suspect a lot of that volume was the same Bitcoin(s) being traded MANY times so it doesn't really represent the true supply & demand situation in the market - a sudden influx of supply would affect price even in smaller lots. Still, smaller lots probably would have made more sense so who knows for certain.
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