I mean, one of the open secrets of the market is that the spot market is for plebs. The institutions don't usually put orders in order bnooks like a peasant, they have OTC desks for that. The question is what happens when OTC supply runs dry, and pre-arranged deals top out. So yes, but: yes, in that it arrests the price, which shoud affect the OTC deals as wells, BUT it's not actuallz bought in the order book spot market
They operate OTC and don't affect the markets directly, but if the price in the market is 70K nobody is going to sell anything for less than a 3% premium
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