Ghost Town Vibes: Bitcoin Soars On ETFs, Not Users – Expert
Bitcoin has reclaimed the $94,000 region, but network activity remains low, described as a "ghost town" by analysts. A report indicates a disconnect between Bitcoin's rising price and declining on-chain activity, with a significant drop in user engagement since early 2025. Institutional capital is driving the price surge, with Bitcoin ETFs seeing inflows increase from $381 million to $917 million within a week, totaling nearly $38 billion since inception. In contrast, network activity decreased by 0.90%, and active addresses fell by 1.50%. Additionally, zero-balance addresses dropped by 12.50%, suggesting a lack of regular user participation. Interest briefly shifted to the TRUMP meme coin after a promotional dinner announcement, but this did not sustain momentum for Bitcoin or other cryptocurrencies.
