Also, larger BTC holders looking to sell will get a better price when selling off the markets to funds like the BIT, this will happen more and more.
Overall I'd guess the supply that's for sale has gotten slimmer, but it's harder to determine the supply than in the past and it will keep getting harder than in the past.
also a crunch in one exchange will make the dumb bots (not all are dumb) move in others roughly proportionally
one of the dumb bots is coinbase though... soon they will have to keep wide spreads all the time for protection (not just when it triggers)