A rapid outflow has been observed in the Bitcoin OTC market. However, it is necessary to monitor the data for a few more days to determine whether this is merely a temporary fluctuation. If the trend proves to be sustained, it could be interpreted as a positive signal for the market.
Previously, when OTC balances saw a slight increase, excessive fear spread through the market, with many anticipating a major downturn.
Now, as Bitcoin has climbed back to the $68K range, overall market sentiment appears to be gradually shifting. Whether this movement is simply short-term volatility or the beginning of a broader trend reversal remains to be confirmed.
Written by CoinNiel