BTC Investors Show Growing Confidence, Deposits Into Exchanges Decline

IconCryptoNewsTerminal Staff23 Jul, 2024

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BTC Investors Show Growing Confidence, Deposits Into Exchanges Decline

## BTC Deposits on Exchanges Hit Lows On-chain analyst AxelAdlerJr reports a significant decline in Bitcoin (BTC) deposits into centralized exchanges, with the number of active addresses dropping to 25,000 over the past week. This trend is seen as a bullish signal, indicating a growing number of investors holding BTC for the long term and anticipating price appreciation. ## Reduced Selling Pressure and Increased Confidence The decrease in exchange deposits suggests a reduction in the number of addresses willing to sell BTC, reflecting increased investor confidence in the asset. Additionally, the analyst proposes that the increased participation of institutional investors may contribute to this trend. ## Supply-Demand Dynamics As the willingness to sell BTC decreases, the supply in the market becomes scarce. If demand remains steady or increases, this could lead to upward price pressure. This dynamic further supports the bullish outlook for BTC, as it signals expectations of future value appreciation. ```

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