Is the rumor true that there is no more Bitcoin to sell on the OTC market?

In his statement, Ki Young Ju, the founder and CEO of CryptoQuant, mentioned a news article that claimed Bitcoin price would reach $100,000 by the end of the year. However, Ki Young Ju disagreed with this prediction and explained his reasons. He believed that the market was not ready for such a surge in price, citing the lack of substantial market indicators and the absence of major investors in the current trend. He emphasized the importance of considering multiple factors before making any price predictions and urged caution in accepting such bold claims.

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In his statement, Ki Young Ju, founder and CEO of CryptoQuant, mentioned a recent rumor.

According to the circulating rumor, only 0.4 BTC is left for sale in the Bitcoin OTC market due to the demand created by Bitcoin Spot ETF. This rumor has been shared by many influential people.

However, Ki Young Ju stated that the rumor of OTC companies running out of BTC is absurd.

He said that it is very difficult to track these transactions without sharing the cryptocurrency addresses of the OTC companies themselves. The CEO of CryptoQuant stated that when checking the addresses to which these companies send assets, it is found that they still have sufficient liquidity.

As an example, he cited the $7 billion OTC transaction of Coinbase Prime last Friday.

Recent analysis has indicated that the demand for BTC has increased tenfold due to the influence of Bitcoin Spot ETF.

SOURCEvietstock
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