Cryptotelegraph
  • News
    • Bitcoin News
    • Ethereum News
    • Crypto News
    • Crypto Technology
    • Analysis
    • Blockchain News
    • Industry News
    • NFTs
    • ICO News
    • Press Releases
  • Market Cap
  • Exchanges
  • ICOs
  • Videos
    • Bitcoin Videos
    • Ethereum Videos
    • Altcoin Videos
    • Blockchain Videos
    • ICO Videos
  • Submit Press Release
    • Read Press Releases
  • Contact Us
No Result
View All Result
Cryptotelegraph.com
No Result
View All Result
Home News Bitcoin News

Bitcoin Exchange Depositing Transactions At 4-Year Low, Bottom Signal?

Andy K by Andy K
January 6, 2023
in Bitcoin News
Reading Time: 4 mins read
15.6k 157
0
Bitcoin Exchange Depositing Transactions At 4-Year Low, Bottom Signal?
2.7k
SHARES
68.3k
VIEWS
Share on FacebookShare on Twitter

On-chain data shows the Bitcoin exchange depositing transactions are now at a 4-year low, indicating that the bottom may be here.

Bitcoin 30-Day MA Exchange Depositing Transactions Have Declined

As pointed out by an analyst in a CryptoQuant post, the metric’s current levels are the same as in Q1 2019. The “exchange depositing transactions” is an indicator that measures the total number of Bitcoin transfers that are headed toward centralized exchanges.

The difference between this metric and the more popular exchange inflow is that the latter indicator tells us the total amount of BTC being deposited to exchanges, that is, the combined sum of the value of each transaction going to exchanges (rather than their total number), which is a value that can be inflated by a few whales and are thus not representative of the trend being followed by the entire market (especially the retail investors).


Get 30 FREE SPINS at Punt Casino – NO DEPOSIT REQUIRED! Start Playing Now.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

But since the exchange depositing transactions only focus on the pure number of individual transfers taking place rather than their amounts, the metric could give a more accurate picture regarding whether the average investor is sending coins to exchanges or not at the moment.

Related Reading: Bitcoin Bearish Signal: Large Dormant Supply On The Move

Since one of the main reasons holders deposit to exchanges is for selling purposes, a high value of this indicator can have bearish implications for the price of the crypto. On the other hand, low values imply not many investors are applying selling pressure right now.

The below chart shows the trend in the 30-day moving average (MA) Bitcoin exchange depositing transactions over the last several years:


BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Bitcoin Exchange Depositing Transactions

The 30-day MA value of the metric seems to have been pretty low in recent days | Source: CryptoQuant

As shown in the graph, the 30-day MA Bitcoin exchange depositing transactions have declined for quite a while and have recently hit pretty low values. The current levels are the lowest the indicator has observed since Q1 2019, four years ago.

Related articles

Bitcoin Price Prediction: Fed’s Stance, ETF Approval, & Yuan’s Impact on BTC

Bitcoin Price Prediction: Fed’s Stance, ETF Approval, & Yuan’s Impact on BTC

September 23, 2023
Resurfaced Video From 1998 Shows Alleged Bitcoin Creator Hal Finney Discussing Cryptographic Technology

Resurfaced Video From 1998 Shows Alleged Bitcoin Creator Hal Finney Discussing Cryptographic Technology

September 23, 2023
Related Reading: Why Bitcoin Will Come Out Ahead In A Recession, Top Analyst Claims

Back then, the bear market of that cycle was at its final stages as the asset price was at cyclical lows. This means that the appetite for depositing coins to exchanges, and thus for selling BTC, is at historically low levels.

This could suggest that the selling pressure may have become exhausted in the market now, and the bottom could be near, if not already, for the current BTC cycle. However, the quant in the post also notes that the bottoming process being possibly here doesn’t discount the possibility that there could still be a final downward push left for Bitcoin.

BTC Price

At the time of writing, Bitcoin is trading around $16,700, up 1% in the last week.

Bitcoin Price Chart

Looks like the value of the crypto has been consolidating sideways in the last few days | Source: BTCUSD on TradingView
Featured image from Thought Catalog on Unsplash.com, charts from TradingView.com, CryptoQuant.com
Tags: bitcoinBitcoin BottomBitcoin Exchange Depositing Transactionsbtcbtcusd

Read More From Original Source

Tags: bitcoinBitcoin bottomBitcoin Exchange Depositing TransactionsBTCBTCUSDWhy Bitcoin Will Come Out Ahead In A Recession, Top Analyst Claims
Share1094Tweet684
Andy K

Andy K

Andy is a former Forex Trader who got involved in the crypto industry early January 2013. Since then Andy has been writing about cryptocurrencies and blockchain technology within various online crypto news publications. He is also one of the main contributors to Cryptotelegraph.com

Fun Fact : Despite other staff members helping themselves daily - Andy has a 'never-ending' container of 'Jelly beans' always sat on his desk, it's magic!

Related Posts

Bitcoin Price Prediction: Fed’s Stance, ETF Approval, & Yuan’s Impact on BTC

Bitcoin Price Prediction: Fed’s Stance, ETF Approval, & Yuan’s Impact on BTC

by Andy K
September 23, 2023
0

Bitcoin Price Prediction: Fed's Stance, ETF Approval, & Yuan's Impact on BTC Bitcoin (BTC), the world's largest cryptocurrency, experienced a...

Resurfaced Video From 1998 Shows Alleged Bitcoin Creator Hal Finney Discussing Cryptographic Technology

Resurfaced Video From 1998 Shows Alleged Bitcoin Creator Hal Finney Discussing Cryptographic Technology

by Andy K
September 23, 2023
0

Resurfaced Video From 1998 Shows Alleged Bitcoin Creator Hal Finney Discussing Cryptographic Technology Image Source: Bitcoin MagazineA recently resurfaced video...

Bitcoin Price Prediction as Trading Volume Surges Past $13 Billion as Interest in Crypto Comes Back – Time to Buy?

Bitcoin Price Prediction as Trading Volume Surges Past $13 Billion as Interest in Crypto Comes Back – Time to Buy?

by Andy K
September 23, 2023
0

Bitcoin Price Prediction as Trading Volume Surges Past $13 Billion as Interest in Crypto Comes Back – Time to Buy? As...

Venezuelan Police Raid Uncovers Bitcoin Mining Machines, Rocket Launchers In Prison

Venezuelan Police Raid Uncovers Bitcoin Mining Machines, Rocket Launchers In Prison

by Andy K
September 23, 2023
0

Venezuelan Police Raid Uncovers Bitcoin Mining Machines, Rocket Launchers In Prison Source: Flag Store/AdobeThe Venezuelan Police seized Bitcoin (BTC) mining...

Bitcoin Price and Ethereum Prediction: Minimal 1% Fluctuations Offer Trading Insights for BTC and ETH

Bitcoin Price and Ethereum Prediction: Minimal 1% Fluctuations Offer Trading Insights for BTC and ETH

by Andy K
September 23, 2023
0

Bitcoin Price and Ethereum Prediction: Minimal 1% Fluctuations Offer Trading Insights for BTC and ETH Bitcoin and Ethereum, two paramount...

Load More

Discussion about this post

Partners

Crypto Prices

  • Trending
  • Comments
  • Latest
Blockchain | Hack Script 2020 GENERATES Unlimited 100% WORKING bitcoin hacked

Blockchain | Hack Script 2020 GENERATES Unlimited 100% WORKING bitcoin hacked

March 14, 2020
Blockchain unconfirmed transaction hack 100% Working! New proof!

Blockchain unconfirmed transaction hack 100% Working! New proof!

March 13, 2020
Blockchain Hack Script 2020 GENERATES Unlimited Bitcoin 100% WORKING bitcoin hacked

Blockchain Hack Script 2020 GENERATES Unlimited Bitcoin 100% WORKING bitcoin hacked

February 11, 2020
🔥 Forsage 🚀 (Fast and Furious) – Fully Decentralized Matrix program on Ethereum Smart Contract 🔥

🔥 Forsage 🚀 (Fast and Furious) – Fully Decentralized Matrix program on Ethereum Smart Contract 🔥

March 31, 2020
Ripple XRP Token

Ripple and XRP – The Convoluted Truth Behind XRP’s Creation

0
Bitcoin cash hard fork. BitcoinCash Hard fork (BCH Hard fork)

Bitcoin Cash ‘hard fork’ What you need to know about it

0
Crytotelegraph - Crypto News & Reviews - Bitcoin & Altcoins

Bitcoin price news: 10 year forecast shows bitcoin ‘WON’T DIE’ Latest BTC prediction

0
BAKKT Futures: BAKKT Warehouse & Bitcoin Exchange

Will Bakkt Send Bitcoin’s price skyrocketing?

0
Bitcoin Price Prediction: Fed’s Stance, ETF Approval, & Yuan’s Impact on BTC

Bitcoin Price Prediction: Fed’s Stance, ETF Approval, & Yuan’s Impact on BTC

September 23, 2023
Resurfaced Video From 1998 Shows Alleged Bitcoin Creator Hal Finney Discussing Cryptographic Technology

Resurfaced Video From 1998 Shows Alleged Bitcoin Creator Hal Finney Discussing Cryptographic Technology

September 23, 2023
Bitcoin Price Prediction as Trading Volume Surges Past $13 Billion as Interest in Crypto Comes Back – Time to Buy?

Bitcoin Price Prediction as Trading Volume Surges Past $13 Billion as Interest in Crypto Comes Back – Time to Buy?

September 23, 2023
Venezuelan Police Raid Uncovers Bitcoin Mining Machines, Rocket Launchers In Prison

Venezuelan Police Raid Uncovers Bitcoin Mining Machines, Rocket Launchers In Prison

September 23, 2023

Cryptotelegraph logo x 2




The Cryptotelegraph is a Crypto News Magazine ‘Startup’ that hunts high and low to compile the very latest crypto news and reviews from around the web, whilst at the same time producing thought provoking articles and interpretations surrounding the cryptocurrency market today!


Read More





Disclaimer

Information found on Cryptotelegraph is those of referring websites (or) writers quoted. It does not represent the opinions of Cryptotelegraph on whether or not to buy, trade, sell or hold any investments. You are advised to conduct your own research before making any investment decisions. Use all provided information at your own risk. Full disclaimer.

Crypto News

Bitcoin Price Prediction: Fed’s Stance, ETF Approval, & Yuan’s Impact on BTC

Resurfaced Video From 1998 Shows Alleged Bitcoin Creator Hal Finney Discussing Cryptographic Technology

Bitcoin Price Prediction as Trading Volume Surges Past $13 Billion as Interest in Crypto Comes Back – Time to Buy?

Venezuelan Police Raid Uncovers Bitcoin Mining Machines, Rocket Launchers In Prison

High Gas Fees Alert: Binance Wallet Records $840,000 in Abnormal Ethereum Charges

Bitcoin Price and Ethereum Prediction: Minimal 1% Fluctuations Offer Trading Insights for BTC and ETH

Donations Welcome




Bitcoin Address : 3AhxNswMkD5tjJJ544NRCwWhCDXHJ5GTzq

Ethereum Address : 0x9627FB741C19e1a70E7006F2B0D0c26d14AA1816

Bitcoin Cash Address : qq93an6n9unnu496vpcx684zekkmn4yk6g79kllf7d

Litecoin Address : MKVphBBJkBbjSh4D6aFLds9XHE1rnS9iHW





© Copyrights 2017 - 2021 Cryptotelegraph.com. All Rights Reserved.

Contact    About    Privacy & Cookie Policy

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Crypto News
    • Crypto Technology
    • Analysis
    • Blockchain News
    • Industry News
    • NFTs
    • ICO News
    • Press Releases
  • Market Cap
  • Exchanges
  • ICOs
  • Videos
    • Bitcoin Videos
    • Ethereum Videos
    • Altcoin Videos
    • Blockchain Videos
    • ICO Videos
  • Submit Press Release
    • Read Press Releases
  • Contact Us

© Cryptotelegraph.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.