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Bitcoin Supply on OTC Desks Hits 156K Amid Institutional Demand
Bitcoin balances held on over-the-counter (OTC) desks have plunged to 156,600 BTC, marking the lowest level ever recorded. According to data from CryptoQuant, this drastic drop indicates intensified accumulation by institutions and large holders. With fewer coins available for off-exchange deals, analysts suggest a potential supply shock could follow.
Bitcoin Supply on OTC Desks Hits 156K Amid Institutional Demand
Bitcoin supply on OTC desks has fallen to 156K and price is steady near $60K as large buyers continue to move coins into long-term storage.
OTC Bitcoin balances have dropped to 156K and this marks the lowest recorded level in the past decade.
This decline may show that institutions are accumulating coins while shifting assets into deeper cold storage.
With fewer coins left for private deals price pressure may increase as buying demand outpaces OTC supply.
Bitcoin balances held on over-the-counter (OTC) desks have plunged to 156,600 BTC, marking the lowest level ever recorded. According to data from CryptoQuant, this drastic drop indicates intensified accumulation by institutions and large holders. With fewer coins available for off-exchange deals, analysts suggest a potential supply shock could follow.
OTC Balances Collapse to Historic Lows
The OTC desk balance has steadily declined since mid-2021, falling from over 550,000 BTC to the current 156,600 BTC mark. These desks are commonly used by high-net-worth individuals and institutions seeking to avoid slippage on open market exchanges. When balances on such platforms decline, it typically reflects large-scale purchasing and holding activity.
Data reveals that every major reduction in OTC balances since 2017 has preceded a significant upward movement in Bitcoin’s price. For example, the sharp decline from 2019 into 2021 coincided with Bitcoin’s rally from $7,000 to over $60,000. Now, with balances at new lows and price continuing to push above $60,000, the setup resembles previous bull runs.