In his statement, Ki Young Ju, the founder and CEO of CryptoQuant, one of the most popular analysis companies in the cryptocurrency market, touched upon a claim that has recently spread especially in the crypto community on X.
Allegedly, due to the demand created by Bitcoin Spot ETFs, there was only 0.4 BTC left to be sold in the OTC (over-the-counter) Bitcoin market. This claim, which took place among the cryptocurrency community with the impact of the rise, was also shared by many influencers.
However, Ki Young Ju said in his statement that the claim that OTC companies have no BTC left is nonsense.
Stating that it is difficult to follow these transactions without sharing the cryptocurrency addresses of OTC companies themselves, CryptoQuant CEO said that when the addresses to which these companies send assets are examined, it is seen that they still have sufficient liquidity.
As an example, he cited Coinbase Prime's $7 billion OTC transaction last Friday.
Recent analysis has shown that the demand for BTC has increased 10 times the supply due to the influence of Bitcoin Spot ETFs.
*This is not investment advice.