On coinbase today some is maintaining an 8k BCH ($2.7 million dollars) buy order within $10 from the market price, they refill it if it gets sold into. Why would someone do this and also make it so obvious if they are buying? Is it a market maker? Institutional buyer?

On coinbase today some is maintaining an 8k BCH ($2.7 million dollars) buy order within $10 from the market price, they refill it if it gets sold into. Why would someone do this and also make it so obvious if they are buying? Is it a market maker? Institutional buyer?