Bitcoin Exchange Activity Declines as Accumulation Patterns Persist
Bitcoin has regained the $100,000 price mark, currently trading at $105,323, reflecting a 4% increase in 24 hours amid geopolitical tensions. A decline in Bitcoin addresses depositing coins onto exchanges has been noted, indicating a shift in investor behavior towards long-term strategies rather than short-term speculation. The number of addresses depositing to exchanges peaked at around 180,000 annually between 2015 and 2021 but has since decreased, with current averages at 90,000 for the 10-year moving average and 48,000 for the 30-day average. Whale accumulation patterns have emerged on the Bybit exchange, with large holders increasing their positions during periods of low market volume, suggesting potential future price strength despite minimal retail participation.
