Is Bitcoin Demand Returning? Active Address Trend May Suggest So
Summary
Bitcoin's Daily Active Addresses have recently surpassed 800,000, indicating increased user activity on the network. This rise suggests growing interest in Bitcoin, particularly following a price rally. Historically, spikes in active addresses occur during volatile market periods, as investors engage more to reposition themselves. Sustained price rallies typically require increased user activity to maintain momentum; otherwise, they may falter. Although the current active addresses indicate a recovery rally, the figure remains below last year's peak of 900,000 and significantly lower than the 1.2 million seen during previous bull markets. Currently, Bitcoin's price is trading around $94,800, showing sideways movement.
