Rumors have circulated that the partnership between one of the biggest names in finance – Goldman Sachs – and one of the biggest...

Share some Bitpinas love:As 2023 reaches its midpoint, we pause to reflect on the eventful developments within #CryptoPH. The industry, rebounding stronger from 2022...

A quick historical past of NFTs: From inception to world recognitionWhat began with Bitcoin-based coloured cash in 2012–2013 grew to become a phenomenon...

The speculative frenzy driven by memecoins appears to have plateaued, with PEPE down over 50% from its all-time high. PEPE briefly boasted a billion-dollar capitalization...

Global private investment and the number of AI startups decreased in 2022, while the industry's adoption of the technology has plateaued compared to previous...

PlayStation VR2 ships today. Here’s our technical analysis of it as VR hardware. PSVR 2 offers major upgrades over the original 2016 product. PSVR 1...

Data from Glassnode analyzed by CryptoSlate indicates that long-term Bitcoin holders have hit an all-time high, with a focus on Bitcoin that was previously active...

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While future predictions should be made with caution, Euronews Next has highlighted several major tech trends that will be prevalent in 2023. The metaverse...

Historical data of an on-chain indicator could suggest Bitcoin may not be in danger of another sharp crash right now. Bitcoin Spot Exchange Depositing Addresses Stay At Very Low Values As pointed out by an analyst in a CryptoQuant post, signs are that another crash similar to Q3 2018 isn’t likely to happen currently. The relevant indicator here is the “spot exchange depositing addresses,” which is a measure of the total number of Bitcoin wallet addresses that are making send transactions to centralized spot exchanges right now. Generally, investors deposit their coins on spot exchanges for selling purposes. Thus, a spike in this metric can be bearish for the price of the crypto as it could be a hint at dumping behavior from a large number of addresses. On the other hand, low values imply not many holders are adding to the selling pressure in the market at the moment. Now, here is a chart that shows the trend in the Bitcoin spot exchange depositing addresses over the last few years: Looks like the value of the metric has been going down in recent months | Source: CryptoQuant As you can see in the above graph, the quant has marked the relevant zones of trend for the Bitcoin spot exchange depositing addresses. It seems like usually around periods where this indicator has sharply risen up to local tops, the price of BTC has also observed a top and subsequently declined. Related Reading: Will Bitcoin Tank Following The Charles Schwab Indicator? Do BTC Investors Need To Worry? Since the bull run top last year, the spot exchange depositing addresses have been overall winding down, seeing only a couple of peaks in the period. Some investors have recently been wondering whether another sharp drawdown is coming for Bitcoin in the near future, just like the one the 2018 bear market saw after months of sideways movement similar to now. Looking at the chart for the trend during the 2017/2018 cycle, it’s apparent that the metric declined following the bull run top and then plateaued at low levels as the bear market went on. Related Reading: Bitcoin Dominance To Regain Control Over Crypto? | BTC.D Analysis October 20, 2022 However, in Q3 2018, the indicator suddenly jumped up. A couple of months or so after this happened, the price observed a crash. As during recent weeks there has been no such sharp increase in the indicator, the analyst believes there is no indication that a decline similar to then would take place now. BTC Price At the time of writing, Bitcoin’s price floats around $18.8k, down 4% in the last week. The value of the crypto seems to have dipped below the $19k level again | Source: BTCUSD on TradingView Featured image from André François McKenzie on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Bitcoin was the cryptocurrency that started it all, and it is also by far the most popular digital currency to date, holding its title...