Data: The balance of Bitcoin over-the-counter trading platforms has risen to 410,000 coins, reaching the highest record since May 2022
ChainCatcher news, according to CoinDesk, data from CryptoQuant shows that the total amount of Bitcoin in the over-the-counter (OTC) market has exceeded 410,000 coins, the highest level since May 2022, more than double the 185,000 coins in March.The balance can indicate the amount of liquidity available for purchase or sale at OTC desks; a high balance indicates strong liquidity, allowing the desk to fulfill large orders. A low balance, on the other hand, may suggest that trading is more difficult. OTC clients are primarily high-net-worth individuals or institutions outside of retail trading platforms. OTC trading allows for large buy and sell transactions without affecting Bitcoin prices on CEX.Data shows that OTC balances have surged significantly over the past six months, while Bitcoin has been on a downward trend since its historical high of $73,500 in March. The increase in balance is quite similar to the situation from late 2020 to early 2021, when OTC balances skyrocketed from 235,000 tokens to 435,000 tokens within six months. The difference is that Bitcoin's price was rising at that time, but it is now slightly declining.
