OTC withdrawals were as high as 230,000 BTC. And after another 90,000 BTC followed, traders changed their sentiment from bearish to bullish.
connected
to increased wallet activity and very active Over-The-Counter trading. Mignolet, in his CryptoQuant analysis noted, “Most noticeable data during the frustrating price consolidation period that has been ongoing since the second quarter is the UTXO count, and the entities capable of such behavior are institutions or whales.”, it is not unusual to expect withdrawals. But this time, the OTC withdrawals were as high as 230,000 BTC. And after another 90,000 BTC followed.Another metric to look at is the percentage of UTXO in profits.
, it seemed that traders also shared the sentiment that a recovery might soon occur. Funding rates, as the name suggests, are periodic payments held between long and short traders that hold perpetual positions in the market.
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