I don't know much about stocks and investing, but lately I have been keeping a close eye on crypto exchanges and I noticed something I can't explain.
No matter what news is announced good or bad, or what ripple effect whales cause when they buy or sell, all exchanges behave nearly identically in real time. I would have expected at least some delays between exchange spot rates changes. Or perhaps geologically based differences, like Chinese people sleeping affecting exchanges based in China. Instead the trading graphs all move together.
What causes the exchanges to mirror each other so much?