- On this chart, $BTC is still holding around $71.4K, while Active Addresses EMA(30) has fallen to roughly 620K. This suggests price is outperforming the level of on-chain participation.

- Historically, this kind of decline has signaled that $BTC is approaching a bottoming zone.

- It is not a confirmed reversal signal yet, but it is a divergence worth monitoring closely if it persists.

Written by Rei Researcher