Most bitcoin prices are tied to an average or a collection of what the top exchanges publish as the current bitcoin price. But who's actually moving their prices? From my understanding, retail users don't have the power to move prices in the short term. Whales supposedly are the ones who can make the price suddenly jump or drop...but they trade on OTC desks right? not on retail exchanges....so how are these Whale movements being reflected on retail exchanges to determine what the current bitcoin price is? Or are there actually some whales who use the exchanges to trade on?
Actually they are not doing much at OTC, They just move Bitcoin to Cex and start manipulating it. The proof is that you can see before the market was sold off, At whales alert there were many big Bitcoin transactions being moved from private wallet to exchange. Then the Whales drastically sell off and lag the exchanges, most commonly in Binance.