Bitcoin has seen a rally toward the $81,000 level, but on-chain data shows the surge has failed to attract investor attention, with network activity remaining low. Bitcoin On-Chain Activity Has Dropped To 2-Year Lows According to data from on-chain analytics firm Santiment, the Bitcoin blockchain has witnessed a drop in indicators related to on-chain activity. The metrics of relevance here are the Daily Active Addresses and Network Growth. Related Reading: Bitmine Adds 101,745 ETH, Moves Closer To 5% Ethereum Supply Goal First, the Daily Active Addresses measures the total number of wallets that are coming online on the network every day. An address is said to come “online” on the network when it participates in some kind of transaction activity, whether as a sender or receiver. As such, the Daily Active Addresses basically tells us about the user activity on the network. The other indicator of interest here, the Network Growth, deals with activity that’s specifically coming from new users; it measures the total number of addresses coming online on the blockchain for the first time. Now, here is the chart shared by Santiment that shows how these two metrics have changed for Bitcoin over the past year and a half: As displayed in the above graph, both the Bitcoin Daily Active Addresses and Network Growth have declined over the last few months. While the earlier decline made sense in the context of the bearish market shift, the latest continuation of the downtrend has interestingly arrived despite a price surge in the cryptocurrency. Currently, there are 531,000 addresses participating in network transaction activity and 203,000 new addresses popping up daily. This is the lowest that both counts have been in about two years. Generally, notable price rallies tend to attract network participation and adoption as traders find such phases to be exciting. Clearly, though, the latest one hasn’t been able to do that, at least not so far. Santiment noted: Instead, the price is climbing on relatively thin participation, meaning a smaller group of players is responsible for pushing the market higher, rather than a broad wave of new and returning users flooding in. Historically, price surges that have failed to gather enough attention have been likely to fizzle out. Since the latest rally isn’t currently being backed by mass user participation, its foundation may be shaky. Related Reading: Bitcoin Supply Squeeze? Institutions Absorbing 500% Of New BTC That said, the current low network activity could also actually act like a contrarian signal. As the analytics firm explained: Paradoxically, 2-year lows in network activity can actually signal that Bitcoin is coiled for a much bigger move upward. Activity bottoms often mark the end of apathy, not the continuation of it. BTC Price At the time of writing, Bitcoin is trading around $81,250, up 7% over the last week. Featured image from Dall-E, chart from TradingView.com
As Bitcoin (BTC) continues to trade in the low $110,000 range, a key on-chain indicator has flipped bullish, show signs of an upcoming price rally that could propel the top digital asset to new all-time highs (ATH) in the near term. Bitcoin’s 600,000 Transactions Threshold Takes Center Stage According to a CryptoQuant Quicktake post by contributor Ibrahim Cosar, an important correlation between BTC price and the total number of transactions over time stands out. Related Reading: Bitcoin Cycle Confluence Hints No Bottom Before October – What This Means The analyst shared the following chart to highlight the relationship between Bitcoin’s price and the total number of transactions. Notably, whenever the total transaction count surges above the 600,000 level – or even approaches it – BTC’s price tends to initiate an upward move. The above chart shows three previous instances in 2025 when BTC’s total transaction count climbed beyond 600,000, with an ensuing price appreciation. In May, there was a sharp price increase shortly following Bitcoin’s transaction count jump. Similar combinations of transaction count increase and price action surge were witnessed in August and early September. The CryptoQuant analyst remarked that this pattern has become particularly evident since Q4 2024. Cosar added: I’ve been studying on-chain data for a long time, but it’s rare to see such a clear pattern. The 600K transaction threshold seems to act almost like a signal that triggers Bitcoin’s “price engine.” This is my personal discovery, and the chart confirms it quite clearly. The analyst stated that rising transaction activity on the network is a leading indicator of Bitcoin’s underlying usage and demand. As the number of transactions on the Bitcoin network rises, the network becomes more vibrant and active. The growing usage of the Bitcoin network creates a natural buying pressure on Bitcoin’s price, adding fuel to the cryptocurrency’s bullish momentum. According to Cosar, the 600,000 transaction level is an “activity explosion” threshold that leads to a “price explosion.” That said, the analyst cautioned that no single factor can completely influence BTC’s price, as it is dependent on a mix of various factors, including macroeconomic backdrop, regulations, and trading activity. Still, the significance of an on-chain indicator with such a strong correlation with BTC’s price should not be ignored. If the total transaction count rises past the 600,000 level again, expect BTC to hit a new record high. Will BTC Fall Below $100,000? Bitcoin’s inability to decisively break through its current ATH of $124,128, recorded on August 14, has bulls worried about the digital asset’s fading momentum. The cryptocurrency is currently at its most oversold level since April 2025. Related Reading: Bitcoin Tipped To Peak In 2026 – Here’s Why From a technical standpoint, BTC has formed a bearish evening star pattern on the weekly chart, raising the possibilities of a price dip below $100,000. At press time, BTC trades at $114,117, up 3.8% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
On-chain data shows the Bitcoin network is currently noting an uptick in Daily Active Addresses. Here’s what this could mean for BTC’s price. Bitcoin Active Addresses Just Crossed The 800,000 Mark In a new post on X, the market intelligence platform IntoTheBlock has discussed about the latest trend in the Daily Active Addresses of Bitcoin. The “Daily Active Addresses” here is an on-chain indicator that keeps track of the total number of BTC addresses that are becoming involved in some kind of transaction activity on the network every day. When the value of this metric rises, it means the number of users becoming active on the blockchain is going up. Such a trend can be a sign that the interest in the cryptocurrency is on the rise. Related Reading: Dogecoin Could Rally To $0.74 ATH If Price Closes Month Above This Level, Analyst Says On the other hand, the indicator going down implies investors may be shifting their attention elsewhere as not many of them are coming online to make moves on the network. Now, here is the chart shared by the analytics firm that shows the trend in the Bitcoin Daily Active Addresses over the past decade: As displayed in the above graph, the Bitcoin Daily Active Addresses has witnessed a jump recently, suggesting user activity has grown on the network. This uplift in the indicator has come after the cryptocurrency has witnessed a price rally. Historically, the blockchain has tended to become active during volatile periods, as investors usually come online to reposition themselves in such phases. As such, the latest spike in the Daily Active Addresses may not be too surprising. Generally, rallies only end up being sustainable when they can attract user attention, as it’s the increased chain activity that can provide the fuel such a move needs to keep going. Price surges that are unable to induce an increase in the metric usually fizzle out before long. Given that the Daily Active Addresses has jumped recently, the current recovery rally may at least be in the clear in terms of this, if the activity spike indeed corresponds to demand from the investors. Related Reading: Why Has Bitcoin Rally Stalled? On-Chain Data Provides Hints That said, while there has indeed been renewed activity on the Bitcoin network recently, the indicator’s current value of about 800,000 is still not too high when compared to the past. Last year, the Daily Active Addresses managed to hit a high of 900,000. This value was still notably lower than the 1.2 million high that the blockchain saw during the past two bull markets. BTC Price Bitcoin has taken to sideways movement during the last few days as its price is still trading around the $94,800 level. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com
Bitcoin has faced severe selling pressure after briefly reclaiming the $100K mark, only to lose it in under three days. The swift reversal has left investors on edge as BTC now struggles to find stability around the $95K level. This critical support zone is pivotal in determining whether BTC can recover or face a deeper […]
Bitcoin’s renewed price performance and resilience during previous roadblocks have sparked strong optimism among investors and traders about its potential for significant growth in the long term, as evidenced by a surge in new large BTC holders‘ balances. New Whales Accumulating Bitcoin At A Fast Rate In light of heightened confidence in the general market, […]
Multiple onchain metrics showed a surge in activity as Bitcoin price rallied to $68,000, possibly signaling that the price momentum is sustainable.
Data shows three popular Bitcoin momentum indicators recently formed a death cross pattern. Here’s what usually follows this formation. Bitcoin Momentum Indicators Have Seen Bearish Crossovers Recently In a new CryptoQuant Quicktake post, an analyst has discussed the latest trend in three momentum indicators related to Bitcoin. The momentum indicators here refer to combinations of some important moving averages (MAs) related to the cryptocurrency. The first is the “Active Address Momentum,” which involves the 30-day and 365-day MAs of the daily unique number of BTC Active Addresses. An address is said to be “active” when it makes some transaction on the network, whether as a receiver or sender. Related Reading: $170 Million In Crypto Longs Bite The Dust As Bitcoin Plunges Under $57,000 The number of Active Addresses may be the same as the number of users visiting the network, so this metric tells us how the blockchain activity is looking right now. Here is the chart shared by the quant that shows the trend in the 30-day and 365-day MAs of the Active Addresses over the last few years. As displayed in the above graph, the monthly average of the Active Addresses saw a cross under the yearly average shortly after the asset’s rally to the new all-time high (ATH) and has since remained under it. This crossover implies activity on the BTC blockchain has been on the decline. Generally, user interest keeps rallies fueled, so an increase in Active Addresses is needed to keep any more sustainable. As investors are starting to pay less attention to the cryptocurrency, conditions may not be right for a bull run anymore. The chart shows that this kind of crossover also occurred at the end of the bull run in the first half of 2021, although the second-half rally did occur regardless. The second momentum indicator is the famous Market Value to Realized Value (MVRV) Ratio, which tells us whether the investors are in profit or loss. As the chart shows, the MVRV Ratio has also seen its monthly cross below its yearly, suggesting investor profits have been shrinking. This pattern has historically served as a death cross, with BTC shifting towards a bearish phase following it. The same cross also appeared just before the 2022 bear market kicked off. Related Reading: Bitcoin Could Drop To $40,600 If This Happens, Crypto Analyst Says Finally, there is also the bearish crossover between the 50-day and 200-day MAs of the Bitcoin price itself. Given all these negative patterns across the different Bitcoin indicators, the cryptocurrency may be heading towards at least a short-term bearish period. BTC Price Bitcoin has struggled recently as its price has dipped towards the $56,500 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Bitcoin investors appear to be demonstrating a cautious approach as evidenced by the recent notable decline in the number of BTC active addresses, which indicates a reduction in on-chain activity as the market continues to be unstable. Bitcoin Sees Decrease In Active Addresses Kyle Doops, a market expert and host of the Crypto Banter show, […]
Data shows that Bitcoin active addresses have plunged, but the transaction count has been around an all-time high (ATH). Here’s why this may be so. Bitcoin Active Addresses And Transaction Count Have Diverged Recently According to the latest weekly report from Glassnode, the Bitcoin network has been showing a divergence in its activity-related metrics recently. […]