Part 6/13:
Another key insight comes from OTC (Over-the-Counter) Bitcoin balances. Data indicates a significant shift: OTC holdings have increased from roughly 1,150 to over 600 Bitcoin today, implying ongoing demand. While OTC markets only account for a fraction of total Bitcoin trading, their growth signifies sustained buying pressure, possibly driven by institutional investors or strategic traders accumulating Bitcoin quietly amidst the noise of public markets.
The question remains: Where are the large Bitcoin warehouses—perhaps Coinbase or other major custodians—drawing from to sustain this demand? The subdued OTC balances suggest that major players continue to acquire Bitcoin, even as retail and institutional traders react emotionally to ETF launches and market dips.