Bitcoin has remained above this price level for three consecutive days since retracing $70,000. Supported by easing global tensions, BTC showed slight upward momentum.
At press time, BTC was trading at $71,021 after a slight decline of 0.93% on the daily charts. Prior to this shift, it was trending upwards, with two positive weekly candles being printed for the first time in 2026.
Bitcoin deposit addresses are at a 10-year low
Bitcoin sees minimal pressure on the sell side even as broader market weakness continues.
Data from Darkfost showed Foreign Exchange Deposit Addresses fell to a 10-year low, signaling a decrease in selling intent. Only 31,000 deposit addresses were active daily; The annual average was close to 47,000; levels were last seen around 2017.
Historically, such a sharp decline in total Deposit Addresses has occurred during advanced bear market stages. These are prolonged periods of market weakness during which interest in the market gradually diminishes.
Therefore, most traders quietly tended to stay away from the market and wait for other ideal conditions to re-enter. Additionally, Darkfost stated that current market conditions are failing to encourage investors to sell their assets on exchanges.
In fact, the Foreign Exchange Supply Ratio (ESR) metric confirms this decline in foreign exchange deposits. Looking at the metric, it dropped to 0.133, near the lowest level of 2018.
The decline in ESR indicates that most traders, both large-scale and retail, have significantly reduced their expenses. Such market conditions coincide with periods when sales pressure is gradually exhausted.
Why is BTC still struggling?
Despite Bitcoin (BTC) Despite the decrease in Foreign Exchange Deposit Addresses, big players, especially institutional investors, are still selling.
Looking at BTC Spot ETFs, it seems that institutional investors are mostly selling. In fact, an outflow of $283 million was recorded from ETFs in the last 2 days.
Bitcoin ETFs recorded negative net inflows for 9 days in the last 2 weeks; This is a clear sign of aggressive selling. When large players sell high-value assets, even a reduced exchange address does little to improve asset performance.
As a result, momentum remained strongly downward. Looking at the Momentum (MOM) indicator, it is currently hovering around -5957.
At the same time, the DMI Modified has been negative since October 2025, confirming the strength of the trend. The fact that these momentum indicators are quite weak indicates that the decreasing deposit addresses are not turning into withdrawal addresses.
Thus, most of the investors opted out and those who participated sold and expanded the market significantly. Therefore, market conditions indicate continued weakness.
If the trend continues, BTC will likely drop below $70,000 again and $66,000 will become support. However, if the market feels the impact of reduced currency inflows, BTC could hold above $70,000 and hit $74,200.
Final Summary
- Bitcoin remains above $70,000, but this move lacks strong follow-through and conviction.
- Pressure on the sell side has fallen sharply, with FX Deposit Addresses at their lowest levels in a decade.
