I am reading as carefully as i can here from work, but still, your answer doesn t answer my question. Maybe you don t get my question or maybe i wasn t clear enough. You described me blackrock buying coinbase « reserves » otc creating a supply crunch which i agree overall but still, it doesn t explain why the spot price move. It would move if the trades were happen like if you and I bought from the exchange, but the point of OTC is purposedly to be different to avoid chaotic price variations…