~110 000 BTC which influences a market of ~17 250 000 BTC ? Mhhh not sure ... 
Try selling 1% of any stock, see what happens!
Especially a thinly-traded one. Finex's 24h volume is 73k BTC. Weekly vol 572k BTC. Dump a few k into that in the space of minutes, which is what happened earlier this week, and I think you'll see the influence it has.