Please have a look at where the bid sum actually resides. Half of it is below $60/Ƀ, $2M are even below $25/Ƀ. I call manipulators all those that move millions but park them at market – 50%.
I would love to see in addition to the above chart a chart with the weighted average bid and the weighted average ask and a chart of that spread which I would call manipulators activity chart.
I agree with all you say except for your arbitrary definition of 'manipulators'
Those charts would provide more 'information' to do with as you please, but by no means are evidence of manipulation.
I have bids at market - 50% ... how does that make me a manipulator ? I'm good for it and a genuine buyer, just not at these prices.
Trying to read meaning into these charts without taking account of the level of the bid is ... well .... in my opinion a waste of time. If anything these charts are positively misleading. You could equally well say that anyone who is willing to sell several thousand at $120 but has not entered the order in the order book is also a 'manipulator'. He has intent but is not showing it, hoping that the market reaches that level before showing his/her hand. Which is more manipulative ?
Leaving genuine big bids in may be counterproductive (or not), but at least it is 'open' ... how many people here have hands they are not showing ? That's what makes a market.
And yes, I am fully aware that people play games with markets, especially ones as illiquid as this. But one could very easily argue that those who have bought to hold, with no intention of selling are the true manipulators, hoarding with the intention of exponential gain due to supply constraints, whilst shouting from the rooftops about how everybody should buy Bitcoin. BTW I am not disagreeing with the potential utility and value or I would not have bids in