The number of bitcoin exchange depositing addresses has dropped to 132,100, a multi-year low, according to a recent CryptoQuant research note. This metric represents the number of addresses sending inflow transactions to exchanges, and the analysis suggests that a multi-year low indicates a decrease in the number of investors selling coins on spot exchanges.
Bitcoin centralized exchange depositing addresses are at their lowest level since 2016 which could indicate a reduction in selling pressure.
