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According to CryptoQuant, OTC desk activity is dropping sharply — we've heard this story before… don’t shoot the messenger.

:d)

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Maine McEachern

Can anyone explain how from 2017-22 there were many periods where the OTC balance and BTC price were in sync (directly correlated)? I.e. going up or down together? They diverged from 2022 onward, which makes sense to me; as BTC buying and price ramp up, OTC balances should go down. Why for much of 2017-22 did OTC balances go up as BTC's price went up, and down when BTC's price went down?

Solbull

Just casually observing but it seems like the price follows the balance not the other way. So price is up and look like it will follow the supply down. Strange take I know.

JobberWokker

Not sure why people think they are related. OTC is just a reservoir. It doesn't determine supply or demand.