Cumberland, a company that deals with over-the-counter (OTC) crypto money trading, has published a stunning data on Bitcoin.
Bitcoin is not only traded on spot markets such as Binance and Bitfinex. The largest crypto currency is also traded in OTC markets.
A survey conducted last year revealed that OTC markets could have at least double the volume of spot markets. Very affluent individuals prefer to trade from OTC markets instead of spot markets for lack of liquidity. In fact, there were various arguments about how the prices in the spot market changed direction with the leakage of any process carried out here.
These are one of the largest OTC companies, as well as the previous day of Cumberland, pointed out an important data.
According to data shared on the company’s official Twitter account, the buyers and sellers side in Cumerland’s OTC transactions have so far been relatively stable;
It was stated above that there are theses that the movements in OTC markets affect the Bitcoin prices in the spot market . The crypto money, which picked up from $ 3,700 at some point in the last week, climbed over $ 4,000 on Sunday, and has been holding above this level for a few days. Cumberland’s data confirms these theses.
On the other hand, this data may signal that institutional investors have increased risk appetite in Bitcoin or that the base-building process has been completed.