June 29 (Cointime) - Bitcoin's Over-The-Counter (OTC) holdings, which refer to the amount of Bitcoin held by decentralized dealer networks, have surged to their highest level in the past year, with inflows consistently outpacing outflows since May 2023.
OTC trading involves the direct exchange of assets like Bitcoin between two parties, bypassing traditional exchanges, and is often used by whales who want to buy or sell Bitcoin without impacting the market price too much.
The recent increase in OTC holdings could suggest that more whales are buying Bitcoin through OTC trades, potentially indicating bullish market sentiment. While recent trends in OTC holdings and inflows hint at renewed market confidence in Bitcoin, the overall decline in inflows since 2020, along with OTC holdings still being significantly below their all-time high, indicates that the market has substantial room for growth.
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