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

BTC

BTC/USDT

$75,396.16

+4.08%

$75,396.16

+4.08%

(24s)

24h Volume

$34,057,419,982.02

24h H/L

$76,000.00 / $72,419.28

Change: $3,580.72 (4.94%)

Long/Short

48.3%

Long: 48.3%Short: 51.7%

Funding Rate

+0.0041%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$75,396.16

▲ 0.68%

Volume (24h): -

Resistance Levels

Resistance 3$83,437.33

Resistance 2$78,962.25

Resistance 1$76,029.69

Price$75,396.16

Support 1$74,580.36

Support 2$70,920.82

Support 3$68,115.84

Pivot (PP):$75,336.78

Trend:Sideways

RSI (14):63.0

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.

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