Friday, January 05, 2024 7:34:39 AM
Your theory would make more sense if it's reversed.
- Someone wants a bigger position, but presumably there are not many shares offered at the current ask (and someone doesn't want to drive the price further up beyond the current ask, before having amassed that bigger position).
- So, someone pulls the market to 0.04 (by selling a small amount into the bid), and by doing so encourages current holders to sell larger volumes at the ask, or triggers a couple of automatic sell orders (because the marketprice is abruptly getting lower).
- More shares are offered around the current ask, so someone can get a bigger position without really driving the price beyond the current ask.
So, my theory still: there is someone who is anticipating on some possible upcoming development.
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