The data show that the OTC balance has shot up in the past six months while bitcoin has been ranging in a downwards channel from its all-time high above $73,500 in March. The run-up in balances is fairly similar to that seen in late 2020 into early 2021 when the OTC balance shot up from 235,000 to 435,000 tokens in six months. The difference is that bitcoin’s price was on the rise then, but modestly downward now.
Bitcoin (BTC) Price Tumbles Below $59K Amid Inflation Worry, SEC Lawsuit
"Hot CPI and oil price spike due to Middle East tensions have created a fear that the Fed will not...