Bitcoin traders are feeling bullish about a potential “nuclear” rally amid rumors of over-the-counter exchanges “running short of Bitcoin.”
Bitcoin’s price clocked an 11% gain in October. While it hasn’t matched the performances of previous Octobers, traders speculate a significant price movement is imminent as over-the-counter (OTC) exchanges scramble for more Bitcoin.
“Price will go nuclear. It’s planned,” crypto trader Alex Becker declared on Oct. 31, pointing to the “absolutely absurd amounts of Bitcoin being bought OTC by institutions.”
Echoing a similar sentiment, pseudonymous crypto trader The Bitcoin Therapist stated that “rumors are circulating OTC desks are running dry on Bitcoin, and a squeeze is coming.”
