Does the selling of bitcoin-backed shares have an effect on BTC's price?

[joniboini]

Plus, even if they sell, there are other big companies waiting to buy wholesale too. You think big companies like lets say Blackrock just opens up a coinbase account and buy there like us? Of course not, they buy in thousands, which means that they buy wholesale OTC,

I'm not sure how these companies communicate with each other, but I bet one of them will know beforehand if someone will flood the market with huge sales pressure. They can follow them by selling their shares too, or they can buy and absorb some pressure as you mentioned above. Besides, there's no need to speculate when every bear market comes so many companies sell their holdings too. At the end of the day, they will try to offload their loss to retail as fast as possible. Even if they sell it through OTC, it will affect the retail market sooner or later since rumors will circulate. It doesn't take that much to spread FUD afaik. CMIIW.

[Captain Corporate]

I agree, that type of communication is how whales get rich, first you do it then I do it and we make money. When there is one that has thousands and thousands of bitcoins, the other goes and shorts a lot of bitcoin, so when the one with thousands sells and publishes news that they are selling, price crashes and the one who shorted makes all the money in the world. All they do is switch up the places and that's it, nothing more and that's why its quite normal for this to happen. I believe that the best thing to do is just avoid thinking about what whales do, and just invest for the long term without caring.