I'm assuming bitcoin price jumps are driven by large orders from big hege funds or people with large amounts of money/crypto.
Which exchanges would these people/companies use?
I'm interested to explore if these big orders could be detected on the order books on some of the popular exchanges.
I'm assuming that if a whale places sell order with exchange X the price will be driven down and all other exchanges will follow.
Any ideas which main exchanges are driving the price changes most of the time?
P.S. I know usually large orders are split into lots of small orders to prevent detection, but still... I feel like some exchanges must play the role of the master while others are slaves.
Allow me to use some common sense in answering this topic. Now I'm pretty sure that these whales are smart. So it is normal that they have created an account with every existing exchange platform there is. Now these exchanges have different rates or prices. So where will they buy? Of course, in exchanges with the lowest price! Where will they sell? Just the opposite, in exchanges with the highest price. Simple as that...