The Bitcoin (BTC) network activity was in a downtrend, as evidenced by the daily active addresses count dropping since March. However, a recovery in this metric suggests a refreshed interest in using Bitcoin, which could fuel the demand for BTC.
In particular, Ali Martinez, a known on-chain analyst, spotted the daily active addresses downtrend breakout on June 8 on Santiment. Martinez highlighted the 765,480 Bitcoin addresses that turned active in the last 24 hours of posting.
According to the analyst, this is a positive sign that suggests a bull run continuation.
The number of daily #Bitcoin addresses has broken a downtrend that started on March 5!
In the past 24 hours, 765,480 $BTC addresses were active. This surge in network activity is a positive sign that the #BTC bull run will continue. pic.twitter.com/S2Ih2FSrt5
— Ali (@ali_charts) June 9, 2024
Other Bitcoin network activity metrics
The ongoing drop in Bitcoin network activity also appears in other metrics. For
We współpracy z: https://finbold.com/bullish-bitcoin-network-activity-breaks-a-3-month-downtrend/
