The number of new Bitcoin wallets decreased to 275,000 during the period from May 13 to May 19, 2024, according to The Block. This is the lowest level since May 2018. The seven-day moving average (7DMA) indicated that an average of 275,000 new addresses appeared daily.

Glassnode data supports this: on May 12, 2024, the number of new addresses dropped to 223,836. From May 13 to May 19, only once did it reach 300,000 new addresses. In April, the figure ranged between 350,000 and 400,000.

Active address numbers are also declining. Since late April 2024, a downward trend has been observed. Other indicators, such as the hash rate, also point to decreased network activity following a sharp spike after the halving, according to BitInfoCharts.

In the last 24 hours, Bitcoin's price fell from $67,000 to $66,280, according to TradingView, although an upward trend was noted on the morning of May 20.

Previously, QCP Capital experts predicted that Bitcoin might return to its previous all-time high.