Bitcoin Deposit Addresses Hit Lowest Level Since 2016, Reducing Selling Pressure

BTC

BTC/USDT

$77,608.46

+0.38%

$77,608.46

+0.38%

(24s)

24h Volume

$9,963,086,493.04

24h H/L

$77,666.66 / $76,388.72

Change: $1,277.94 (1.67%)

Long/Short

62.2%

Long: 62.2%Short: 37.8%

Funding Rate

+0.0035%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$77,237.21

▲ 0.51%

Volume (24h): -

Resistance Levels

Resistance 3$79,890.00

Resistance 2$78,568.84

Resistance 1$77,268.67

Price$77,237.21

Support 1$77,057.10

Support 2$74,709.32

Support 3$72,930.71

Pivot (PP):$76,930.67

Trend:Uptrend

RSI (14):54.7

On September 16, COINOTAG news revealed insights from CryptoOnchain, an analyst at CryptoQuant, through a chart shared on social media. This chart illuminated that the count of deposit addresses on Bitcoin trading platforms has plummeted to 132,100, a figure not witnessed since 2016. These addresses signify the entities sending inflow transactions to trading venues. Such a significant decrease suggests a reduction in the number of investors liquidating their tokens on spot trading platforms, potentially signifying an alleviation in selling pressure.