Bitcoin

<ul class="wp-block-list">
 <li>Bitcoin surged to $106K as OTC desks lost 40K BTC, boosting demand.&nbsp;&nbsp;</li>  
 <li>Institutions are buying heavily, making Bitcoin scarce and prices stronger.&nbsp;&nbsp;</li>  
 <li>Reduced OTC supply signals growing confidence as BTC demand rises sharply.&nbsp;&nbsp;</li> 
</ul>  
Bitcoin prices have surged to $106,000 due to<a href="https://cryptonewsland.com/why-matics-current-momentum-indicates-a-potential-surge-to-1-20/" target="_blank" rel="noopener noreferrer nofollow"> growing demand and a decline</a> in OTC desk balances. Since November 20, OTC desks have lost 40,000 BTC, marking the most drop this year.&nbsp;  
The month-to-date outflow has reached 25,000 BTC, highlighting reduced supply and strong buying activity. Institutional investors appear to be accumulating Bitcoin as demand continues rising, pushing prices higher.&nbsp;&nbsp;  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcUCSSO1nTEsqITJWj0ht7J4eLIVY2ag4QnOC57U1ZLK0kUm809zMB-aURGMumLnR0OSwiFDsTKKxuYrUaH5Z-xnzdsMbDXSmy1XmORyzkJCX-kEx3GCfgvExjU2X4vsnpJ7HWyKg?key=JgnW5KSgQkKZKFcdx_uhtccH" alt="">
</figure>  
Source: <a href="https://x.com/cryptoquant_com/status/1868708958669881680" rel="noopener noreferrer nofollow">Cryptoquant</a>  
<h2 class="wp-block-heading" id="h-otc-desks-record-massive-bitcoin-outflows-nbsp-nbsp">OTC Desks Record Massive Bitcoin Outflows&nbsp;&nbsp;</h2>  
OTC desks, which cater to large investors, are witnessing a rapid decline in Bitcoin reserves. Current balances have dropped below 240,000 BTC, reflecting increased interest from institutional buyers. Large investors tend to use OTC desks to avoid impacting Bitcoin’s market price on exchanges. As a result, this drop indicates steady accumulation and growing confidence among institutions.&nbsp;&nbsp;  
The loss of 40,000 BTC in three weeks suggests that demand is far outweighing available supply. Historically, such trends have preceded major Bitcoin price rallies. Large investors are capitalizing on reduced supply, pushing Bitcoin to new heights. With fewer BTC available, the market remains on a strong upward trajectory.&nbsp;&nbsp;  
<h2 class="wp-block-heading" id="h-bitcoin-demand-surges-to-record-levels-nbsp-nbsp">Bitcoin Demand Surges to Record Levels&nbsp;&nbsp;</h2>  
Data shows Bitcoin’s 30-day apparent demand has climbed above 80,000 BTC this month. This sharp rise directly coincides with Bitcoin’s current price surge. It demonstrates that demand has been increasing steadily as fewer coins remain available on OTC desks.&nbsp;&nbsp;  
Institutional buyers continue accumulating Bitcoin as confidence grows in its long-term value. The declining supply from OTC desks reflects strong market scarcity, which fuels price growth. Historically, similar supply and demand trends have driven Bitcoin to new highs during accumulation phases.&nbsp;&nbsp;  
Analyst Julio Moreno explained that Bitcoin OTC desks are experiencing their sharpest balance decline of 2024. He noted that demand outpacing supply is the key driver pushing Bitcoin prices toward record levels.&nbsp;&nbsp;  
<h2 class="wp-block-heading" id="h-can-bitcoin-sustain-its-upward-momentum-nbsp-nbsp">Can Bitcoin Sustain Its Upward Momentum?&nbsp;&nbsp;</h2>  
The drop in OTC reserves raises a crucial question: Can Bitcoin maintain its <a href="https://cryptonewsland.com/why-matics-current-momentum-indicates-a-potential-surge-to-1-20/" rel="noopener noreferrer nofollow">current momentum </a>in the coming weeks? With institutional demand showing no signs of slowing, the trend suggests continued price strength. Reduced availability combined with growing demand creates conditions for further upward movement.&nbsp;&nbsp;  
Bitcoin’s supply remains limited while accumulation continues to grow. If this pattern holds, Bitcoin may achieve even higher price milestones soon.&nbsp;&nbsp; 
The post <a href="https://cryptonewsland.com/bitcoin-hits-106k-as-institutions-snap-up-40k-btc-from-otc-desks/" rel="noopener noreferrer nofollow">Bitcoin Hits $106K as Institutions Snap Up 40K BTC from OTC Desks&nbsp;</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Bitcoin Hits $106K as Institutions Snap Up 40K BTC from OTC Desks

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