OTC Bitcoin (BTC) balances rise to highest level since May 2022

The data shows that the OTC balance has risen over the past six months, while bitcoin has been in a descending channel since its all-time high of more than $73,500 in March. The increase in balances is quite similar to that seen in late 2020 to early 2021, when the OTC balance increased from 235,000 to 435,000 tokens in six months. The difference is that the price of bitcoin was rising then, but now it was falling modestly.