Bitcoin Exchange Deposits Plunge, Is 2017- Style Crypto Bull Run Ahead?

The post Bitcoin Exchange Deposits Plunge, Is 2017- Style Crypto Bull Run Ahead? appeared first on Coinpedia Fintech News The Bitcoin price has surged by 9.4% over the last seven days, with a single-day spike of 9.65% between April 21 and 22. This rally comes amid a notable shift in on-chain behavior—one that echoes patterns seen before Bitcoin’s historic 2017 bull run. Fewer BTC Sent to Exchanges — A Bullish Signal? Source : CryptoQuant According to crypto analyst Axel Adler Jr , the number of Bitcoin addresses depositing BTC to exchanges is steadily declining—a trend that’s been in motion since 2022. His analysis, based on the Bitcoin Exchange Depositing Addresses Count chart, shows: 30-day average : ~52,000 addresses Yearly average : ~71,000 addresses 10-year average : ~92,000 addresses This significant drop suggests a cooling in selling pressure. Typically, when investors move BTC to exchanges, it signals an intent to sell, so fewer deposits imply growing confidence in holding. Chart Flashback: December 2016 The current address count mirrors levels not seen since December 2016. Back then, Bitcoin recorded a monthly gain of 29.2%, followed by an explosive 1,369% price rally in 2017. Could history be repeating? Adler believes so. He interprets the decline in exchange deposits as a sign of rising HODL sentiment—investors choosing to hold rather than sell. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Investors Still Skeptical About the BTC Price Rally-—Is This a Calm Before the Storm or a Reversal Incoming? , What It Means for Bitcoin Price With fewer coins moving to exchanges and recent gains of 13.3% in the past two weeks, the Bitcoin price appears primed for further upside. If the pattern follows that of late 2016, this could mark the early stages of a substantial bull run. 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As per Coinpedia’s BTC price prediction, 1 BTC could peak at $168k this year if the bullish sentiment sustains. How much will 1 Bitcoin be worth in 2030? With increased adoption, the price of 1 Bitcoin could reach a height of $901,383.47 in 2030. How much will the price of Bitcoin be in 2040? As per our latest BTC price analysis, Bitcoin could reach a maximum price of $13,532,059.98 How high will Bitcoin go in 2050? By 2050, a single BTC price could go as high as $377,949,106.84

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