The balance of Bitcoin OTC trading platform rose to 410,000, the highest record since May 2022

According to CryptoQuant data, the total amount of Bitcoin on the OTC market exceeds 410,000, the highest level since May 2022 and more than double the 185,000 in March. Balances can indicate the amount of liquidity available for purchase or sale at OTC desks. High balances indicate strong liquidity and the ability of trading desks to complete large orders. Low balances are the opposite and may indicate greater trading difficulty. OTC clients are mainly high-net-worth individuals or institutions outside of retail trading platforms. OTC trading allows large amounts of buying and selling without affecting the price of Bitcoin on CEX. Data shows that OTC balances have risen sharply in the past six months, while Bitcoin has been on a downward trend from its all-time high of $73,500 in March. The rise in balances is quite similar to the situation in late 2020 and early 2021, when OTC balances soared from 235,000 tokens to 435,000 tokens in six months. The difference is that the price of Bitcoin was rising at that time, but it is now slightly lower.