BTC Active Address Count Falls, Signaling Network Slowdown
CryptoNewsTerminal Staff04 Sep, 2024
BTC Active Address Count Falls, Signaling Network Slowdown
CryptoQuant contributor gaah_im reported that "the total number of active BTC addresses has fallen to a level similar to when the BTC price was around $45,000 three years ago. This is also the lowest level this year." This decrease in active addresses indicates a decline in overall network activity and could negatively impact BTC's price. However, the reduced network activity also suggests lower volatility, potentially leading to price stabilization. Investors anticipating a future rally may view this decline as an opportunity to accumulate BTC at potentially favorable levels.
