Since the $70,000 recovery, Bitcoin has held above this price level for three consecutive days. Boosted by easing global tensions, BTC has shown slightly bullish momentum.
At the time of writing, BTC was trading at $71,021, after a slight decline of 0.93% on the daily charts. Before this slip, it had been on an upward trend, printing two positive weekly candles for the first time in 2026.
Bitcoin deposit addresses hit a 10-year low
Bitcoin is experiencing minimal sell-side pressure even as broader market weakness continues.
Data from Darkfost showed The number of deposit addresses on the exchange fell to a 10-year low, indicating reduced intent to sell. There were only 31,000 deposit addresses active every day, with an annual average of almost 47,000, a level last reached around 2017.
Historically, such a sharp decline in the total number of deposit addresses has occurred during advanced bear market phases. These are periods of prolonged market weakness, during which interest in the market has gradually disappeared.
As such, most traders have taken to quietly avoiding the market, waiting for other ideal conditions to re-enter. Furthermore, Darkfost noted that prevailing market conditions have failed to encourage investors to sell their assets on exchanges.
Basically the Exchange Supply Ratio [ESR] The metric validates this decline in currency deposits. Looking at the metric, it has dropped to 0.133 and is hovering around its 2018 low.
A decline in the ESR indicates that most traders, both large-scale and retail, have significantly reduced their spending. Such market conditions coincide with periods of gradual easing of selling pressure.
Why is BTC still struggling?
Although Bitcoin [BTC] Although there were fewer Exchange Deposit Addresses, major players, especially institutional investors, were still selling.
Looking at the BTC Spot ETFs, institutional investors have mainly sold. In fact, ETFs have recorded $283 million in outflows over the past two days.
Bitcoin ETFs have recorded negative net inflows for nine days over the past two weeks, a clear sign of aggressive selling. When big players sell valuable investments, even a limited deposit address on the exchange will do little to improve asset performance.
As a result, momentum has remained strongly bearish. Looking at the momentum indicator (MOM), it is currently around -5957.
At the same time, DMI Modified has remained negative since October 2025, confirming the strength of the trend. Now that these momentum indicators are very weak, this shows that the reduced deposit addresses have not turned into withdrawal addresses.
So most investors have pulled out and those who are involved are selling, stretching the market significantly. Market conditions therefore point to continued weakness.
If the trend continues, BTC is likely to fall below $70,000 again, with $66,000 as support. However, if the market feels the impact of reduced currency inflows, BTC could hold above $70,000 and target $74,200.
Final summary
- Bitcoin holds over $70,000, but lacks strong follow-through and conviction.
- Sell-side pressure has fallen sharply, with foreign exchange deposits at their lowest level in a decade.