news 
Bitcoin Exchange & OTC Reserves Hit Lows: Is a Supply-Led Breakout Next?
As the Bitcoin price grapples with the $108,000 barrier, on-chain data suggests a persistent decline in exchange reserves and miners’ over-the-counter (OTC) balances. Historically, such a phenomenon has been aligned with major bullish cycles.
Since last week, the Bitcoin price has struggled to break above $108,000, hindering the recovery momentum in the altcoin market. However, on-chain data reveals a consistent drop in exchange holdings and OTC balances, which may precipitate a supply-led breakout.
Exchange reserves have plummeted to 2.45 BTC, the lowest level since March, according to CryptoQuant analyst IT Tech. This reduction in exchange holdings diminishes sell-side pressure as coins are moved from trading platforms to long-term custody or cold storage.
A similar downtrend is seen in OTC balances, which stands at 156.6k BTC, a multi-year low. The simultaneous decline in these metrics signals that short-term liquid supply is contracting, particularly among miners.
In the past, such falls have been indicative of major upside trends for Bitcoin.
Source: www.cryptonewsz.com
