According to a recent research report by CryptoQuant on September 18, the number of deposit addresses on Bitcoin CEX platforms has dropped to 132,100, the lowest level in many years. This indicator represents the number of addresses that send inflow transactions to the trading platform. Analysis shows that the lowest level in many years indicates that the number of investors selling Bitcoin on spot trading platforms has decreased, which may indicate that the selling pressure has eased.
But Julio Moreno, head of research at CryptoQuant, said that when deposits on trading platforms decrease, it may not only indicate that people are less interested in selling Bitcoin. It may also mean that there is less demand for Bitcoin overall because fewer traders are depositing funds to bet on price increases.
