Why a Billion-Dollar Bitcoin Buy Barely Moved the Chart

[bonk]

A fresh wave of debate swept through the crypto community after Andrew Tate questioned why MicroStrategy’s latest purchase of roughly 10,600 BTC failed to budge Bitcoin’s price. Despite adding nearly a billion dollars’ worth of BTC to its reserves — now over 660,000 coins — Bitcoin stayed locked between $88K–$92K before finally breaking out today.
Analysts are pointing to a simple but often-misunderstood reality: institutional buys rarely hit public exchanges. Instead, massive orders pass through OTC desks, where deep private liquidity prevents slippage and keeps price charts silent. As long as OTC supply can meet demand, even billion-dollar inflows leave no footprint — reminding traders that execution route matters more than headline size.

[Nahid Hossen]

Deep liquidity absorbs even billion-dollar orders in today’s market.

[Abdul Khan]

Large buys get spread across OTC and spot—so price impact stays minimal.