Market impact is a specific Trading coordinate in the Bitcoin knowledge graph. In practical terms, it identifies the subject described here: The price movement caused by executing an order relative to available liquidity. This definition is narrower than promotional usage and should be read together with the implementation, date and evidence attached to the entry.
Market impact is best understood as part of a system rather than as an isolated definition. Its related coordinates show the mechanisms, incentives and historical records that give the term practical meaning.
Market impact describes how participants value, trade or obtain exposure to bitcoin. Market behavior can affect adoption and mining economics, but it does not rewrite consensus rules. Price evidence and protocol evidence answer different questions.
Understanding Market impact helps distinguish a verifiable Bitcoin mechanism or historical record from slogans, products and market narratives.
Primary or authoritative records make these details checkable: market impact is the price change associated with executing or revealing an order, commonly separated into temporary and persistent components and estimated relative to a benchmark for a defined size and horizon. They should be verified before using the coordinate in analysis.
The practical limit is: correlation between a trade and price movement does not establish permanent causal impact; hidden liquidity, information content, venue routing, volatility and counterfactual price paths make estimates model-dependent. A definition, office, chart pattern or published claim is not by itself a prediction or Bitcoin consensus rule.
For the clearest picture, read this entry together with Slippage, Trading liquidity, TWAP, VWAP, Market depth, Bitcoin. The reverse links also lead from Slippage, Institutional OTC desk, Market depth, Trading liquidity.