• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America

Bitcoin Transaction Data Points to Potential Surge in OTC Trading

Cole Petersen by Cole Petersen
3 years ago
in Bitcoin
Reading Time: 2 mins read

Bitcoin transaction volume is rapidly moving off of exchanges, which is a positive sign that indicates the market is beginning to mature as it becomes driven less by speculative trading and more by long-term investing and real-world utilization.

It is important to note that the decline in transactions taking place on exchanges also seems to indicate a surge in the number of over-the-counter trades being conducted by investors, which is a positive sign that points to an influx of large buyers into the market.

This could be a positive sign that bolsters the mid-term outlook of the market, suggesting that it may be seeing major inflows of fresh capital, despite BTC’s lackluster performance as of late.

It is important to note that its recent price decline has not come about due to any underlying weakness, but rather due to the turbulence seen in the stock market.

This has caused investors to grow jittery, which has adversely impacted volatile assets like Bitcoin.

Exchanges Lose Their Dominance Over Market Activity 

NewsBTC reported earlier this week that exchanges now account for 20% of miner revenue, marking a drastic decline from where this same metric was in 2018.

According to analytics platform Glassnode, exchange fee dominance hit peaks of 41% in 2018, and it has been declining ever since.

“On-chain Exchange Fee Dominance shows the major role that centralized exchanges play in the Bitcoin ecosystem. 20% of all miner fees are currently used for BTC txs involving exchange activity. In 2018 after BTC peaked, this number was as high as 41%.”

Image Courtesy of Glassnode.

This decline seems to indicate that more transaction volume is moving off of exchanges, likely taking place between individuals, businesses, and OTC traders.

CryptoQuant CEO: BTC Possibly Seeing a Spike in OTC Transaction Volume

While speaking about the data above regarding the medium upon which Bitcoin transactions are taking place, CryptoQuant CEO Ki Young Ju explained that he believes this may point to a rise in OTC trading volume.

“The number of BTC transferred hits the year-high, and those TXs are not from exchanges. Fund Flow Ratio of all exchanges hits the year-low. Something’s happening. Possibly OTC deals… This also happened in Feb 2019, when OTC volume was skyrocketed. I think this is a strong bullish signal.”

Bitcoin

Image Courtesy of Ki Young Ju. Charts via CryptoQuant.

If OTC trading activity is on the rise, it may indicate that Bitcoin is seeing large inflows of capital from wealthy investors. This could be a positive sign for its near-term outlook.

Featured image from Unsplash.
Tags: btcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin (BTC)

Traders Act Fast As Binance Australia Unveils Bitcoin Discount For Limited Period

2 days ago
Bitcoin (BTC)

No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

3 days ago
Bitcoin

Bitcoin Shows Recovery: Did This Historical Line Act As Support Again?

3 days ago
Bitcoin Core

Bitcoin Core 25.0 Hits The Market: A Sneak Peek Into The Future

4 days ago
Bitcoin (BTC)

JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why

6 days ago
Bitcoin

Bitcoin Exchange Inflows Mostly Coming From Loss Holders, Weak Hands Exiting?

6 days ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    1 day ago
  • Willing to buy new crypto: Here are the best 10...

    1 day ago
  • Best Crypto Meme Coin Presales in 2023

    1 day ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Investors Side With Skyrocketing TMS Network (TMSN) As...

    53 mins ago
  • Lido DAO (LDO) Finally Launches V2 While Uwerx(WERX) Has...

    1 hour ago
  • MOOKY Price Prediction – the next Dogecoin (DOGE)?

    3 hours ago
  • The Graph (GRT) and InQubeta (QUBE) Are Two Crypto AI...

    3 hours ago
  • Steadfastness Under Scrutiny: Mooky (MOOKY) and ApeMax...

    3 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.