<ul><li>The recent stagnation in Bitcoin’s price has been accompanied by a significant influx of Bitcoin (BTC) into the over-the-counter (OTC) trading desks.</li><li>Approximately 43,000 BTC has been transferred onto these desks over the past 30 days, marking the largest monthly inflow since May 2022.</li><li>This surge in OTC desk balances is reminiscent of the bull run in early 2021, which ultimately marked the top of the market cycle.</li><li>The increase in OTC desk balances could signal a local peak for Bitcoin in the near term.</li></ul>

Surge in Bitcoin to OTC desks potentially marks a local peak

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