The number of bitcoin depositors to exchanges has dropped to a one-year low

Recent data show that despite the drop in the price of bitcoin in recent days, the number of addresses that deposit their inventory to digital currency exchanges has reached its lowest level in 13 months.

To Report Crypto-slit The number of wallets depositing bitcoins into digital currency exchanges is usually steadily increasing when the market is bullish. Although the value of bitcoins has been largely declining over the past 30 days, data from the analytical website Glassnode shows that as of Sunday this week, the number of addresses that deposit their bitcoins to exchanges has dropped to its lowest level in 13 days. Last month it reached 4,197.9 cases.

According to Glasnood data, the last time the number of addresses of Bitcoin depositors to exchange offices reached its 13-month low of 4,202.91 three weeks ago, on November 24th.

Based on these data, it can be said that investors like to keep their digital assets until another upward trend in the market begins and the value of their assets reaches a new peak.

Bitcoin performance in the last quarter of 2021

After bitcoin rose to more than $ 68,000, many digital currency analysts predicted that its price would cross the $ 100,000 mark. As a result, many investors hoped that the price of bitcoin would exceed this target.

However, the Bitcoin market continued to fluctuate and its price fell to lower levels. Market data show that the price of a bitcoin has dropped to $ 42,000 in the last 30 days.

The fact that bitcoin holders do not want to invest their money in exchanges shows that currently the fear of price fluctuations has not affected their decision to hold bitcoins. Data from the Glasnood website show that the number of hoodled bitcoins as of December 9 was 7,224,018,804.