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

BTC

BTC/USDT

$65,680.00

-1.46%

$65,680.00

-1.46%

(24s)

24h Volume

$13,194,615,567.51

24h H/L

$66,928.49 / $65,553.67

Change: $1,374.82 (2.10%)

Long/Short

57.1%

Long: 57.1%Short: 42.9%

Funding Rate

+0.0015%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$65,687.99

▼ -1.30%

Volume (24h): -

Resistance Levels

Resistance 3$70,123.44

Resistance 2$68,048.15

Resistance 1$66,635.89

Price$65,687.99

Support 1$65,484.56

Support 2$64,412.95

Support 3$62,909.86

Pivot (PP):$66,220.35

Trend:Uptrend

RSI (14):57.0

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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