Bitcoin liquidity keeps evaporating in the OTC shadows, with balances plunging ever since 2022. Fresh numbers now confirm this dip has hit an all-time low.
Vanishing OTC Reserves 🦇
Large players stay busy stacking Bitcoin even while OTC supplies keep shrinking fast. Past cycles saw these pools swell right before bull peaks, yet this round refuses to follow the script and instead sinks lower. CryptoQuant noted the OTC stash has already shed around 400,000 BTC, sliding from 550,000 BTC down to 150,000 BTC amid nonstop whale buys. The firm points out this cycle feels different, with accumulation stretching longer and slower balance growth than before. A fiercer rally might only ignite once the whales pause their buying spree. For now the record-low balance screams ongoing accumulation and tightening liquidity.
Deeper Reset Lurking? 🌑
Another on-chain clue tracked by CryptoQuant shows Bitcoin has not reached a solid recovery yet. The adjusted SOPR lingers below 1, so holders are still offloading at losses instead of gains. Its 30-day average fails to break above that line because demand cannot yet soak up the sell pressure. Recoveries usually spark only after SOPR crosses 1 and holds firm. Long-term holders reap far smaller profits than in earlier tops, with their SOPR sliding steadily. Should this pattern drag on the market could slide toward those deeper reset zones seen near major bottoms. Despite the soft signals Michael Saylor-led Strategy just grabbed another 520 BTC for 35 million dollars, pushing total holdings to 847,363 BTC. 🖤
Just another echo from the void by iconofsin.eth 💖
