Bitcoin exchange depositing addresses have plummeted to 132,100, marking the lowest level since 2016. This metric, which tracks the number of addresses sending inflow transactions to exchanges, is a critical indicator of market behavior.

A decline in depositing addresses suggests fewer investors are selling their Bitcoin on spot exchanges. This reduction in selling pressure could signal a bullish sentiment among holders, potentially leading to price stability or even an upward trend.

Overall, the current data points to a positive outlook for the Bitcoin market, reflecting growing investor confidence and a potential for sustained growth.