Bitcoin is under pressure and struggling to peel back losses from early this week. Even with prices stabilizing in the last day, the path of least resistance is southwards for now. For the trend to shift, there must be a convincing close above the local resistance at around $66,000.
Bitcoin Active Addresses “Anemic”
Data points to a worrying drop in on-chain activity as prices cool off and consolidate within a bear breakout formation. Taking to X, one analyst observes that over the past few months, the number of Bitcoin active addresses has been falling. The only time this metric rose was from late 2023 through to early 2024.
Coinciding with this expansion and looking at price data, Bitcoin prices had risen from below $30,000 to as high as $73,800. Afterward, and referring to on-chain development, the number of active addresses has been sloping negatively.
Usually, a slowdown in network activity, as is the case at the moment, could have massive implications on price a
We współpracy z: https://bitcoinist.com/bitcoin-active-addresses-dropping-blame-spot-etfs/
