CryptoQuant: the number of $BTC on OTC wallets is the maximum since June 2022.
Historically, an increase in the number of BTC on OTC wallets has been accompanied by a decline in the value of Bitcoin.
OTC Bitcoin trading balances for miners have increased by more than 70% over the past three months, rising from 215,000 $BTC in June to 368,000 $BTC in August - an increase of 153,000 BTC.
These balances haven't reached these levels since June 2022.
Miners often resort to over-the-counter (OTC) transactions to sell Bitcoin, seeking better execution without affecting the market price as they would on exchanges.
