After considerable gains, amid which Bitcoin (BTC) reached a high of $44,000, a recent trend might show that further investor and institutional support might be needed for BTC’s price to continue upward.
The Bitcoin network has experienced a noticeable decline in growth in the last month, raising concerns about the viability of flagship crypto‘s recent surge to $44,000.
To ensure a resilient extension of the bullish trend, it is important to observe an increase in creating new BTC addresses. This uptick is essential for supporting a continued bullish momentum, per a post on X from crypto analyst Ali Martinez on December 18.
Number of new Bitcoin addresses in the previous 3 months. Source: Ali Martinez
The disparity between the addition of new addresses and the recent price surge of this digital asset indicates that further corrections might be a likely scenario in the near future. This trend could be reversed after the announcement of a potential BTC spot ETF, which could conceiva
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