Bitcoin (BTC) Exchange Deposits Plunge to 2016 Levels Recent analysis from CryptoQuant highlights a significant trend: the number of Bitcoin deposit addresses on exchanges has plummeted to levels not seen since late 2016. Analyst Axel Adler Jr. notes that the 30-day moving average of BTC deposit addresses currently hovers around 52,000, well below the 10-year average of 92,000. Long-Term Bitcoin Holding Sentiment Strengthens This decline suggests a shift in investor behavior. According to Adler, "Bitcoin selling volume has decreased to a quarter of what it was over the past three years," indicating a strengthening preference for long-term Bitcoin holding. This reduction in selling pressure can be interpreted as a bullish signal for the cryptocurrency. Fewer coins being deposited for sale on exchanges could lead to upward price pressure, especially if demand remains constant or increases. This trend reflects growing confidence in Bitcoin's long-term value proposition. ```