Bitcoin price prepares for volatility as spot supply vanishes
Bitcoin’s recent rally occurred as funding rates turned negative, and BTC held on exchanges and OTC desks shrank.
Key takeaways:
Bitcoin onchain data shows a steady depletion of exchange and OTC balances, pointing to long-term accumulation and tightening supply.
With BTC open interest near record highs and liquidity drying up, the market is tightly coiled, raising the probability of a sharp move.
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