Bitcoin Selling Pressure Eases as Exchange Deposits Drop to 6-Year Low
CryptoNewsTerminal Staff17 Sep, 2024
Bitcoin Selling Pressure Eases as Exchange Deposits Drop to 6-Year Low
CryptoQuant reports that the number of bitcoin deposit addresses on centralized exchanges has fallen to 132,100, the lowest since 2016. This indicates a decrease in the number of investors selling bitcoin on spot exchanges, suggesting that selling pressure in the market may ease. This development is significant because it could potentially mark a shift in the market's sentiment. If investors are less inclined to sell their bitcoin, it could lead to a rise in prices. However, it's important to note that the market is always subject to volatility, and this trend may not necessarily continue.
