Bitcoin OTC balances see swift outflows—what’s next for its price?

crypthub

about 4 hours ago

Market Overview

Over the past two weeks Bitcoin has been dominated by sellers, pushing the price down and prompting fearful investors to exit. As the decline slowed, the price appears to have stabilized near $68,000. This pause coincides with an on‑chain development that may signal a shift in market dynamics.

OTC Desk Balance Signals

The Total OTC Desk Balance metric tracks Bitcoin held in wallets of over‑the‑counter trading desks; rising balances usually indicate growing sell pressure from large holders. Recently the balance entered a sharp downtrend, showing significant BTC outflows from OTC desks. This reduction aligns with Bitcoin’s price recovery, suggesting a move from pessimism toward modest optimism.

Potential Implications

A falling OTC balance could mean institutional buyers are accumulating Bitcoin or that large holders are less eager to sell, both of which could support an upcoming price rally. Even without confirmation of the underlying drivers, reduced selling pressure eases short‑term price stress. At press time Bitcoin trades around $67,953, down 0.17% in 24 hours and about 2.8% over the past week.