Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BITCOIN NEWS»Bitcoin Active Addresses Decline Rapidly: Are ETFs the Problem?
BITCOIN NEWS

Bitcoin Active Addresses Decline Rapidly: Are ETFs the Problem?

By Crypto FlexsAugust 29, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin Active Addresses Decline Rapidly: Are ETFs the Problem?
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin is under pressure and struggling to recover losses from earlier this week. Despite the price stabilization on the last day, the path of least resistance is currently to the south. A convincing close above the local resistance level around $66,000 is needed for the trend to change.

Bitcoin Active Addresses “Anemic”

Data shows a worrying decline in on-chain activity as prices cool and consolidate within a bear breakout formation. Moving to X, one analyst said. Observe The number of active Bitcoin addresses has been decreasing over the past few months. The only time this indicator has increased was in late 2023 and early 2024.

Looking at the price data along with this expansion, the Bitcoin price went from under $30,000 to $73,800. After that, referring to the on-chain development, the number of active addresses has tilted towards the negative.

Bitcoin Active Addresses Decline | Source: @nsquaredvalue via X

Typically, when network activity slows down, it can have a big impact on price movements, as it does now. As we have seen in past price movements, the number of active Bitcoin addresses increases with each price increase. The price is under pressure, and the volume of transfers from unique addresses is decreasing, indicating that public interest is decreasing.

Are Specific Bitcoin ETFs the Problem?

Analysts have singled out a possible explanation for this contraction: Looking at the trend of Bitcoin active addresses, it is easy to see that activity slowed down when the U.S. Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETF.

The product gave institutions exposure to the world’s most valuable coins, but it also brought a significant shift in ownership dynamics.

Unlike previous cycles, where prices were driven to new highs primarily by retail activity and sentiment, now prices are being driven by “big players” who can move millions of dollars at a time.

Bitcoin price downtrend on daily chart | Source: Binance, BTCUSDT on TradingView
Bitcoin price downtrend on daily chart | Source: Binance, BTCUSDT on TradingView

This explains why activity was comparatively higher in the first half of 2023 than it is now, even when prices were low, as previously it took many “small” addresses to move the price.

If this is the trend, then activity is likely to be further dampened as institutions and retail investors pull back as BTC breaks through key support levels. The situation could get even worse as long-term holders have been moving their coins in recent weeks.

Bitcoin Long-Term Holders, Coin Movement | Source: @XBTManager via CryptoQuant
Bitcoin Long-Term Holders, Coin Movement | Source: @XBTManager via CryptoQuant

An analyst Note 75,228 BTC ~ between On August 27th alone, 3 to 6 months were moved. Yesterday, August 28th, 1,614 BTC were moved between 18 months and 2 years.

Feature image from Canva, chart from TradingView

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano is 4% away, saying that Hoskinson will break the Internet.

September 21, 2025

France can break the EU password market with ‘atomic weapons’.

September 15, 2025

Expect what XRP ETF is approved by the SEC

September 9, 2025
Add A Comment

Comments are closed.

Recent Posts

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

The method of transforming ASTER WHALES into panic is as follows.

September 25, 2025

Hyperliquid launches USDH Stablecoin issued by Native Markets

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025
Most Popular

Top 10 Cryptocurrencies to Invest in 2024

May 14, 2024

Long liquidations surge as Bitcoin price falls below $67,000

July 30, 2024

Bitdeer Launches Energy-Efficient Bitcoin Mining Chip

June 7, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.