Bitcoin Holdings On OTC Desks Have Been Rising
The amount of Bitcoin held on OTC desks, which are professional trading tools that give crypto whales and big institutions the possibility to buy and sell assets without impacting the liquidity of an exchange, has reached a level that hasn't been observed in approximately one year. Over the course of the quarter, the balance of Bitcoin on OTC desks has increased by 60%.
This growth in balances indicates a growing interest in Bitcoin among significant capital allocators. It suggests that they are increasingly directing their attention towards Bitcoin.
The peak interest in Bitcoin was demonstrated by the spot ETF filings from almost every top-notch institutional money manager out there – Blackrock being the frosting on the cake.
This is a truly bullish sign not only for Bitcoin investors but also for the whole crypto community. With an unseen inflow of capital in Web3, the prices for crypto tokens will grow exponentially…