tldr; The OTC bitcoin balance has reached a 2.5-year high of 410,000 tokens, similar to levels during the late 2020 bull run. This rise could hinder a potential fourth-quarter rally for bitcoin, as a decline in balances is typically needed for a bull run continuation. High balances indicate strong liquidity, allowing large trades without affecting market prices. The current increase mirrors past trends but contrasts with bitcoin’s modestly downward price movement. A drop in OTC balances may be necessary for the bull run to continue.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Zhaopow on
Coinbase’s paper bitcoin? The last bit does not look natural
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This…. bull run – does it speak to you?
tldr; The OTC bitcoin balance has reached a 2.5-year high of 410,000 tokens, similar to levels during the late 2020 bull run. This rise could hinder a potential fourth-quarter rally for bitcoin, as a decline in balances is typically needed for a bull run continuation. High balances indicate strong liquidity, allowing large trades without affecting market prices. The current increase mirrors past trends but contrasts with bitcoin’s modestly downward price movement. A drop in OTC balances may be necessary for the bull run to continue.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Coinbase’s paper bitcoin? The last bit does not look natural