The number of active BTC addresses has hit a record low
The number of active Bitcoin addresses ($BTC ) has continued to decline sharply since April 2021 and is now approaching the lowest level of the cycle, contrary to the usual trend of a rising market. From a peak of 1.15 million active addresses, this number has now dropped to around 680,000, nearly halving. This difference indicates a significant change in the BTC market structure, possibly due to:
• Increased holding sentiment, causing many addresses to become inactive.
• A large number of investors have shifted from on-chain trading to centralized options (such as exchanges) to access BTC.
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