Why did the global market change after 9:48 pm EST?

Supply and demand?
Still the foundation, of course.
But increasingly, it’s secondary.

What really moves price is who establishes the provisional truth first — before the rest of the market catches up.

The first credible bid that doesn’t evaporate.
That’s authorship.

Once intent becomes legible on the tape,
price follows like a shadow obeying its source.

And the…