Recent data reveals that Over-the-Counter (OTC) balances have significantly increased over the past six months, even as Bitcoin’s price has been on a downward trend since reaching its all-time high above $73,500 in March.
The surge in OTC balances mirrors a similar trend observed in late 2020 to early 2021, when balances spiked from 235,000 to 435,000 tokens in just half a year. However, the key distinction this time is that Bitcoin’s price trajectory is currently in a modest decline.
Despite the price fluctuations, the rise in OTC balances suggests increased activity and interest in Bitcoin trading among institutional investors and high-net-worth individuals.
