Subnostr

Here’s a total guess: nobody keeps the price of bitcoin any which way. Depending on the platform you can as a market order set a specific rate your offer is valid for, and when it should be deactivated.

As for the second, the term for that is “slippage”, and noticeably affects orders that are large compared to the market liquidity.

Markets usually have enough liquidity and volatility that all but the largest offers at the market value can be taken in whole without failing to fill part of the total on offer.

How’s that?

nobody 2y ago

Not bad. But which exchanges are they buying on and who’s the seller?

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Discussion

mark tyler 2y ago

Each exchange has its own order book.

So you and I make a decentralized exchangeX. We create a way for people to communicate with each other that they are willing to buy or sell at x price. Those are the makers. And other people can see that and choose offers to take. Miners would be one obvious seller. Anyone who has BTC but has obligations to pay using another asset. People who sell are short, people buy who are long.

Centralized exchanges:

Binance, coinbase

Decentralized exchanges:

Peach bitcoin, hodl hodl, bisq, robosats

nobody 2y ago

I’m aware of this and thank you but it only emphasizes the fact that I don’t think Blackrock et al are buying BTC in bulk as they push the market lower for longer to keep accumulating. Maybe but I seriously doubt it. Direct from miners makes sense but not in huge amounts. IMO.

mark tyler 2y ago

You’re saying the current price seems to indicate we don’t have new massive buyers? Yeah I’d agree. But how could they push the price?

nobody 2y ago

🎯 Large buys with less sellers & supply pushes price higher. Unless there are just way more sellers out there than buyers.

mark tyler 2y ago

Whoever is selling. Thank you. Let’s put on all the selling pressure. DCA loves it.

nobody 2y ago

Ironically I think it’s the exchanges like Binance selling huge.