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Exactly. Sellers will look at listed offers and think ... Hmm no buyers, or only bad rates.

At the same time, buyers will look at listed offers and think ... Hmm no sellers, or only bad rates.

In the meantime there was a trade opportunity that was lost. Make an offer and get the price you want. You can find sellers like myself who will sell near or at spot even (when we need the fiat, and are not doing the trade just to make a profitable trade).