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Bitcoin Bull Run Faces Doubts as OTC Desk Balances Hit 410,000

Shawn

Summary: The balance of Bitcoin on over-the-counter (OTC) desks has doubled in the past five months, reaching a 2.5-year high of 410,000 tokens, the highest since May 2022. This surge mirrors a similar pattern seen during the bull run in late 2020.  High OTC balances indicate strong liquidity for large trades, mainly used by high-net-worth individuals ...

The balance of Bitcoin on over-the-counter (OTC) desks has doubled in the past five months, reaching a 2.5-year high of 410,000 tokens, the highest since May 2022. This surge mirrors a similar pattern seen during the bull run in late 2020. 

High OTC balances indicate strong liquidity for large trades, mainly used by high-net-worth individuals and institutions. However, for Bitcoin's current bull run to continue, a decline in OTC balances will likely be necessary. The increased liquidity on OTC desks could present a headwind to Bitcoin's upward momentum.

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