Decoded Intelligence Signal
Market Impact
intermediate
market_structure
Verified: May 26, 2026Lexicon Core Definition
The price movement caused by executing a trade — larger orders in thinner markets produce greater market impact, meaning the average fill price diverges from the quoted price as the order consumes successive levels of the order book.
Analysis Breakdown
The price movement caused by executing a trade — larger orders in thinner markets produce greater market impact, meaning the average fill price diverges from the quoted price as the order consumes successive levels of the order book. Full explanation coming soon when Journey 12 content is ingested.