Institutions are returning to Bitcoin again.

Regardless of whether it is decentralized or not, big investors generally have a say in Bitcoin (BTC). One of the important places where the original cryptocurrency is traded, but which is often not talked about much, are Over The Counter (OTC) platforms. On-chain data indicates that there hasn't been this much BTC under the addresses of such platforms for seven months.

Institutions active in cryptocurrencies again.

OTC trading platforms are widely used by wealthy individuals and large institutions. They are burdened with low transaction costs. Tokens sold in such places do not necessarily enter the open market. As a result, sellers do not have to worry about price manipulation.

As analyst James van Straten reports, these companies have not had as many BTC on their balance sheets for seven months. Currently, they hold 5.6 thousand BTC in their wallets. This is almost twice as much as during the slump in the fourth quarter of 2022. The data comes from Glassnode, which owns three of these firms.

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Van Straten suggests that these are positive developments as they indicate that large institutions are returning to the market, as well as an increase in liquidity. However, Glassnode does not confirm whether the Bitcoins held in these addresses are available for sale or not.

It is possible that institutions bought the tokens, which could mean that they may also be quickly sold. Alternatively, they may be available for sale, and these companies may decide to liquidate them on a regular cryptocurrency exchange. In any case, it suggests that institutions are active in cryptocurrencies again.

Stablecoins being converted back to BTC.

In a separate analysis, it is reported that traders are converting their stablecoins back into Bitcoin. This trend seems to have started since we hit the bottom in December, according to Glassnode data cited in the report. When we hit the bottom, the volume of sales turned into a volume of purchases almost overnight.

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