Bitcoin Nears ATH As Daily OTC Desk Inflows Slip To 2024 Lows, Data Shows

Quick Summary:

As Bitcoin (BTC) continues to tease a new all-time high (ATH), daily over-the-counter (OTC) desk inflows have plummeted to yearly lows.  Bitcoin’s "Uptober” Narrative Remains Intact Bitcoin has overturned the sluggish start to its historically most bullish month, recording more than 13% gains in October and coming within reach of a new ATH.

Conversely, a positive 30-day change means more BTC was deposited than withdrawn, potentially signaling reduced buying interest or even selling activity.

According to data from SoSoValue, spot BTC ETFs attracted a daily total net inflow of more than $870 million on October 29.

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Article Details

Author / Journalist: Ash Tiwari

Category: Crypto

Markets: Hungary

Topics: Digital asset BTCUSDT Bitcoin ATH Cryptocurrency Bitcoin News Over the counter bitcoin Btc Crypto BTC OTC desks Bitcoin Otc trade

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 13:00:17 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 478 words

Reading Time: 3 minutes read

Sentences: 48 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23348936

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 11 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

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