Bitcoin's blockchain activity has slowed, as the monthly average of new addresses dropped below the yearly average. This indicates reduced network utilization and weaker fundamentals.
Decrease in New Address Creation
Ali_charts reports that the monthly average of new Bitcoin addresses has fallen below the yearly average, indicating decreased network activity and weaker fundamentals.
Decline in Supply Profitability
Bitcoin's supply in profit shows a clear trend shift. The chart tracks BTC price movements, total supply in profit, and net position changes. From April 2024, BTC price rose, increasing the total supply in profit. However, by June 2024, a downtrend began.
Market Cycle Shifts
From November 2024, Bitcoin rallied strongly, sharply increasing the total supply in profit. By January 2025, BTC price peaked and slightly pulled back. Despite this, total supply in profit remained elevated but displayed signs of stabilization.
Bitcoin's on-chain activity and market dynamics show a correlation with profitability. Downtrend phases associate with price declines, while uptrend periods indicate profitability recovery.
