Why a giant purchase of Bitcoin doesn't always change the price?
Spoiler: the market is smarter than it seems 👀
You see the news: “Fund buys millions in BTC”. You can already imagine the chart exploding, right? But… the price barely moves. How come?
🧠 Let's understand what’s behind this.
📘 What is the order book?
The order book is where all buy (bids) and sell (asks) interests in the market are recorded.
Imagine this:
Someone wants to buy 6 BTC, and the market looks like this:
Sell Price (Ask) Quantity
R$ 100.000 2 BTC
R$ 100.500 3 BTC
R$ 101.000 5 BTC
What happens?
👉 The system automatically executes:
2 BTC at R$ 100.000
3 BTC at R$ 100.500
1 BTC at R$ 101.000
🔁 Result: the last price was R$ 101.000. But the impact was smooth. Why? Because there was liquidity.
💣 Now we flip the game: heavy selling
The buy order book is now:
Buy Price (Bid) Quantity
R$ 99.800 1 BTC
R$ 99.500 2 BTC
R$ 99.000 3 BTC
A sale of 5 BTC happens. Result?
1 BTC sold at R$ 99.800
2 BTC at R$ 99.500
2 BTC at R$ 99.000
⚠️ The price now “fell” to R$ 99.000. But, again, it’s not drama — it’s just the market reacting according to the available liquidity.
💡 Moral of the story?
Large purchases may not move the market — if there is enough supply.
Strong sales drop the price when liquidity is low.
It’s all about how and where the orders are distributed.
📌 Keep an eye on the order book, not just the headlines. The true thermometer of the market is there, silently.
👄 — Belle
