This is Why Bitcoin’s Price is Barely Moving

t’s been over a year since the 2024 Block Reward Halving, but Bitcoin is yet to make an explosive move that many analysts have been discussing, reaching $250,000 (possibly higher) in less than six months.

We’ve been mostly hovering between $90,000 and $110,000 since the beginning of this year, and around $105,000 over the past two months.

For context, Bitcoin’s market cap would increase from $2.15 trillion at present to a whopping $4.93 trillion if it manages to reach $250,000.

Once this happens, it will become the second-largest asset by market cap globally.

We often hear about Bitcoin’s hard cap of 21 million, dwindling inflation rate, and rapid accumulation from institutional investors, which are important considerations.

However, there’s another factor at play, one that is having a more noticeable impact on short-term price movements.

Over-the-counter (OTC) trading between institutional investors.

Bitcoin trades are made with not a single satoshi hitting the open market.

It’s peer-to-peer (P2P), especially for the big end of town.

Many are making up for lost time by going through the specialised departments of centralised exchanges (CEXs), which cater to venture capitalists, high-net-worth individuals, and businesses with millions to invest in Bitcoin and…