According to data from Glassnode, Bitcoin‘s Over-The-Counter (OTC) holdings, an often-overlooked aspect of cryptocurrency trading, have surged to their highest level in the past year, with inflows consistently outpacing outflows since May 2023.
Source: Glassnode
Over-The-Counter (OTC) trading denotes the direct exchange of assets like Bitcoin between two parties, bypassing the traditional exchange. This off-exchange trading happens via a decentralized dealer network and often involves substantial amounts of Bitcoin.
This is done through a decentralized dealer network. In the context of Bitcoin, OTC trades are often used by whales who want to buy or sell Bitcoin without impacting the market price too much. This can be important as large trades on public exchanges can cause significant price fluctuations.
OTC holdings refer to the amount of Bitcoin held by these OTC desks. These holdings can offer insights into the behavior of large investors. For instance, an increase in OTC holdings
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