🚀Hey BTC enthusiasts! A whopping 700,000 BTC have been transferred to over-the-counter (OTC) desks commonly used by miners in the past three weeks, says CryptoQuant CEO Ki Young Ju. This massive movement comes after the approval of a spot Bitcoin ETF. 📈

What does this mean? Miners may be gearing up to sell or trade their BTC holdings, taking advantage of their large reserves to facilitate OTC trades for institutional investors. 💼 This could lead to substantial transaction fees and potentially favorable pricing conditions, especially before the much-awaited Bitcoin halving in April. 🎉

Interestingly, this shift comes as more whales 🐳 enter the market, with a significant increase in the volume of UTXOs between 1,000 to 10,000 BTC. This suggests that institutions are getting in on the action, especially with the recent approval of spot Bitcoin ETFs. 🌊

Hold on tight, as large Bitcoin entities' holdings have reached a new all-time high since July 2022, signaling a notable increase in demand for Bitcoin investments. 📊 Currently, Bitcoin is trading just below $52,000, with 30% gains over the past month. 🚀