Bitcoin Sets New All-Time High on Heels of OTC Buying Frenzy

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Bitcoin and the aggregated cryptocurrency market are caught within another leg higher, with bulls staying in full control of the market
This uptrend comes shortly after an intense selloff seen yesterday evening, which came as a result of incredibly high funding rates on margin trading platforms
The move lower reset these funding rates and cleared out “late longs” – which laid the groundwork for a move higher
One analyst explained in a recent tweet that this push higher comes close on the heels of a flurry of OTC buying activity
This is a bullish sign that indicates large buyers are still jumping into Bitcoin despite its relatively high prices
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