Why doesn't this level of buying have more impact on pricing?

We've all the seeing supposedly mysterious buyer loading up on bitcoin. I am not sure if there is any evidence this is buying versus moving bitcoin from right pocket to left pocket. Let's assume it is fresh buying. In 20 days, this person acquired 11268 bitcoins, more than half of all the bitcoins produced during this time. Yet, the price barely moved. How come that this level of buying has so little impact on price? Where is the multiplier effect? Why should we expect etf to change bitcoin price overnight?

This is the address: https://bitinfocharts.com/bitcoin/address/bc1qchctnvmdva5z9vrpxkkxck64v7nmzdtyxsrq64