๐๐๐ Is It True That There Is No #Bitcoinโฌ Left To Sell In The Over-the-Counter Market? Analysis Company Founder Explained
In a recent statement, Ki Young Ju, the founder and CEO of CryptoQuant, a prominent analysis firm in the #cryptocurrency market, addressed a claim that has garnered attention within the crypto community regarding X.
The claim suggests that the introduction of Bitcoin Spot ETFs has led to a scenario where only 0.4 BTC remains available for sale in the Over-the-Counter (OTC) Bitcoin market. This assertion, fueled by the market's surge, has circulated widely among influencers and enthusiasts alike.
However, Ki Young Ju dismissed this claim as unfounded, labeling it as nonsense. He emphasized the challenge of tracking these transactions without access to the cryptocurrency addresses of OTC companies themselves. According to the CEO of CryptoQuant, analysis of the addresses associated with these companies reveals that they still possess ample liquidity.
As evidence, Ki Young Ju pointed to a recent $7 billion #OTC transaction conducted by Coinbase Prime last Friday.
Recent analysis indicates that the demand for $BTC has surged tenfold compared to the available supply, largely driven by the introduction of Bitcoin Spot ETFs.
*This is not investment advice.
Source - en.bitcoinsistemi.com
