CryptoQuant: Bitcoin exchange deposit addresses dropped to about 132,100, and market selling pressure may ease
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Odaily Odaily News CryptoQuant's recent research report shows that the number of Bitcoin exchange deposit addresses has dropped to about 132,100, the lowest level in many years. This indicator represents the number of addresses that send inflow transactions to the trading platform. Analysis shows that the lowest level in many years indicates that the number of investors selling Bitcoin on spot trading platforms has decreased, which may indicate that the selling pressure has eased. However, Julio Moreno, head of research at CryptoQuant, also said that when deposits on trading platforms decrease, it may not only indicate a decrease in people's interest in selling Bitcoin. It may also mean a decrease in overall demand for Bitcoin because fewer traders are depositing funds to bet on rising prices. (TheBlock)
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