Analysis: Bitcoin OTC Reserves Drop to 155,000, Supply Shortage May Drive Prices Higher

According to ChainCatcher, citing a report from Cointelegraph, the Bitcoin over-the-counter (OTC) reserve has dropped to 155,000 BTC, nearing a historic low. Analysts point out that as companies like MicroStrategy continue to purchase BTC, once OTC reserves are depleted, buyers will turn to exchanges, which could trigger a supply shock.

Glassnode data shows that the current BTC balance on exchanges stands at 2.919 million coins, with realized profits exceeding $1 billion in the past 24 hours, including $358 million from long-term investors who have held for 7-10 years. MicroStrategy has increased its holdings by 182,391 BTC so far this year.