Ethereum

Bitcoin exchange depositing addresses have reached their lowest level since 2016, indicating a potential decrease in selling pressure, according to a CryptoQuant research note. The number of addresses sending inflow transactions to exchanges has dropped to 132,100, a multi-year low. This trend suggests fewer investors are selling their coins on spot exchanges. Additionally, the liquid supply of bitcoin on centralized exchanges has decreased by about 15% since the beginning of the year, further indicating a reduction in available bitcoin for sale and possibly a shift towards long-term holding strategies. The bitcoin price has recently increased by approximately 5%, trading at $61,019.