Regarding price, percentage of volume is the important metric. It is not relevant that ~12M bitcoins exist, if only, say, 1% of these are for sale on exchanges. Only coins for sale on exchanges help stabilize the price.

But what exactly does "for sale on exchanges" mean? Presumably a great many coins that didn't trade hands yesterday are still for sale at some price.

but once the volume has been exchanged, it's already too late for most people so it would probably be better to find the cause of high % of volume?