According to data from CryptoQuant reported by Odaily, the total Bitcoin volume in the over-the-counter (OTC) market has exceeded 410,000 BTC, marking the highest level since May 2022. This figure represents a significant increase from the 185,000 BTC recorded in March. The elevated balance reflects the liquidity available for transactions at OTC desks, where a higher amount indicates robust liquidity and the capability to facilitate large trades. Conversely, lower balances could signify challenges in executing orders.

OTC clients typically consist of high-net-worth individuals and institutions, operating outside traditional retail trading platforms. This form of trading enables substantial transactions without affecting Bitcoin’s price on centralized exchanges (CEX). The data indicates a notable rise in OTC balances over the past six months, even as Bitcoin has been on a decline since reaching its all-time high of $73,500 in March. This recent increase in balances mirrors trends seen from late 2020 to early 2021, when OTC volumes surged from 235,000 BTC to 435,000 BTC in just six months. However, unlike that previous period, Bitcoin is currently experiencing a slight downturn in prices.