Bitcoin supply shock to 'uncork' BTC price as OTC desks run dry

Key Points

1. OTC desk BTC balances are down to around 155,000 BTC, which may increase demand on public exchanges and drive up BTC price.

2. Corporate Bitcoin treasuries, like MicroStrategy (MSTR), have been consistently buying BTC, with MSTR acquiring 182,391 BTC year-to-date.

3. Exchange balances are at 2.919 million BTC, but fragility in supply is growing, indicating potential price volatility.

4. Realized profits from long-term holders (7–10 years) and mid-term holders (1–2 years) are notable, suggesting possible profit-taking or internal transfers.

5. Despite bullish supply dynamics, concerns remain about a deeper BTC price correction, with analysts warning of potential short-term declines.