Bitcoin recently dropped from 110k to below 75k, but then recovered and even made a new all-time high at 112k.
However, the situation looks very different on the Bitcoin Blockchain.
1 - ACTIVE ADDRESSES: 🟡
These are addresses that are actively used to send or receive Bitcoin.
When Bitcoin dropped from 110k to 75k, the number of active addresses also fell sharply.
Even though the price recovered, the number of active addresses did not go back up.
2 - NETWORK ACTIVITY INDEX: 📉
This is a mix of different indicators: active addresses, transaction counts, total UTXOs, and number of bytes per block etc.
This index shows how active the Bitcoin network is.
Right now, it also shows low activity, just like the active addresses.
3 - MEMPOOL: ⏳
The mempool is where unconfirmed transactions wait for miner approval.
You can think of it as a "waiting area" for Bitcoin transfers.
Looking at the current data, the mempool is nearly empty — there are very few pending transactions. Sometimes, the mempool can be low because of technologies like SegWit or batching.
But when we also see a drop in Active Addresses and low Network Activity,
it clearly shows that the reason is a lack of interest.
✅ CONCLUSION:
Besides on-chain data and technical indicators can also give bullish or bearish signals.
But the low activity on the Bitcoin blockchain is not a good sign.
It shows a serious "lack of interest" from RETAIL investors.
These days, people's interest in Bitcoin is very low.
So we must closely follow global economic conditions and monetary policies,
as these could stimulate and bring back investor interest and increase risk appetite.
Written by CryptoMe
