It's not clear to me how the interest rate of a specific government bond changes. I would like to make a comparison with cryptocurrency exchanges.
Consider, for example, the price of bitcoin on kraken. It changes on the basis of the price of the last trade executed. If a trade was executed at 1000$ at 10AM and I checked the price at 10:05, I would get 1000$. Next, a trade was executed at 1005$ at 11AM, checking again at 11:05 would return 1005$. I hope you get what I mean.
Now, do bonds work the same? I can imagine there are people selling on the secondary market at given interest rates, therefore the rate changes on the basis of those trades.
Also, bitcoin can have different prices on different exchanges, is it the same for bonds?