Bitcoin exchange deposits have hit a six-year low. That said, HODLERS are key in preventing a drop to the $55K support.
Bitcoin exchange deposits have hit a six-year low, marking the lowest level of BTC deposits in that time.bulls faced another setback after a brief weekend spike that pushed BTC above $60K. With three consecutive red candles, BTC has retreated to $58K.shows Bitcoin exchange deposits have hit a six-year low of 132,100, signaling reduced selling pressure.
Conversely, fewer deposits point to increased control by long-term hodlers, as observed in the past six years since the last spike.Source : IntoTheBlock Currently, 58.27% of LTH are in profit, down from a peak of 74% on March 13—a 16% decline. Historically, a drop in the profit margin after hitting highs can signal a potential bear market months later.In short, while most LTH remain profitable, the weakening margin could suggest a slowdown or bearish trend ahead.
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