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

BTC

BTC/USDT

$67,192.00

+4.90%

$67,192.00

+4.90%

(24s)

24h Volume

$20,842,201,262.52

24h H/L

$67,292.15 / $63,678.83

Change: $3,613.32 (5.67%)

Long/Short

59.3%

Long: 59.3%Short: 40.7%

Funding Rate

-0.0003%

Shorts pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$66,620.00

▲ 1.33%

Volume (24h): -

Resistance Levels

Resistance 3$73,759.94

Resistance 2$70,655.88

Resistance 1$68,191.60

Price$66,620.00

Support 1$66,273.60

Support 2$64,273.78

Support 3$61,834.89

Pivot (PP):$66,307.74

Trend:Downtrend

RSI (14):44.9

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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