🚨 For the first time ever, Bitcoin OTC desk balances are nearly depleted!
🔸 Imagine this: OTC desks now hold only around 1,200 BTC, down from more than 35,000 BTC. This sharp drop came after MicroStrategy, led by Michael Saylor, purchased nearly 34,000 BTC worth $2.54 billion 💰
🔸 If institutional demand (from companies and funds) continues to rise, OTC desks may be forced to buy directly from exchanges. This could tighten liquidity in order books and trigger a supply shock ⚡
🔸 The last time OTC balances were this low was in August 2023, when they held around 5,000 BTC. At that time, Bitcoin was trading near $29,000… and within less than 8 months, it surged to $73,000 by March 2024 🚀
🔺 Now we are at levels never seen before. If institutional demand continues at this pace, the market could be heading toward a major move 🔥
