On-chain data shows the number of new Bitcoin addresses is on the decline, a sign that could be bad for the sustainability of the ongoing BTC rally.
Bitcoin Has Registered A Drop In New Addresses Joining The Network
As pointed out by analyst Ali in a new post on X, the BTC price and network growth are forming a possible bearish divergence right now. The relevant metric is the daily total number of new addresses, where “new addresses” refer to those addresses that are coming online on the blockchain for the first time.
While some of the new addresses being created every day would be coming from the existing investors of the asset (who are perhaps just changing wallets for privacy reasons), a large chunk of them would naturally be because of an inflow of new holders into the market.
Thus, the total number of addresses can provide hints about how the adoption of the cryptocurrency is coming along. When the indicator’s value is high, it means that the blockchain is receiving a signif
We współpracy z: https://bitcoinist.com/bitcoin-adoption-slows-down-bad-news-for-rally/
