As Bitcoin Climbs, Exchange Deposits Plunge to 8-Year Low – What It Means for the Market
Bitcoin is steadily approaching the crucial $100,000 mark. Interestingly, a significant trend emerges: fewer holders are sending their Bitcoin to exchanges. This plunge in depositing addresses has reached an eight-year low, indicating that many investors prefer to hold on to their assets. However, Bitcoin still faces key resistance levels it must overcome to ignite a sustained bullish uptrend. Market experts believe that this reluctance to sell could signal strong confidence among holders as they prepare for potential price increases. Investors should monitor these developments closely.