Recent analysis by Alphractal indicates that the number of active Bitcoin addresses has remained at levels not seen since 2020, despite current price rises in cryptocurrency.
State of Bitcoin Active Addresses
The analysis shows that the number of active Bitcoin addresses is currently at a level not seen since 2020, a time when the world was facing a pandemic and political uncertainty.
Reasons for Low Activity
Alphractal experts argue that this is not due to long-term conviction or holder discipline. Instead, both transaction volume and spot exchange activity remain muted, suggesting widespread disinterest rather than strategic activity.
Looking Ahead
Despite Bitcoin's rise past $100,000, the blockchain itself shows little sign of euphoria. The report states, "Bitcoin may be above $100K, but the crowd isn’t here for it."
With current trends, low activity may indicate disillusionment among both retail and institutional investors, leaving only the most committed participants to capitalize on the long-anticipated milestone.
