Bitcoin's network activity has decreased significantly, with key metrics indicating a decline in on-chain transactions. The Bitcoin Network Activity Index has dropped to its lowest level since February 2024, raising concerns about reduced participation and market dynamics. Mempool data also confirms this slowdown, with pending transactions plummeting to historically low levels.
Bitcoin’s network activity index falls, signaling reduced on-chain demand and a shift in market dynamics.Bitcoin
It tracks essential metrics such as active addresses, transaction counts, and block size. Analysis of the chart showed there has been a decline recently. This is often seen during periods of reduced speculation or when on-chain activity shifts towards custodial and off-chain solutions, such as the Lightning Network.
The 50-day Moving Average stood at $98,743, while the 200-day MA is positioned at $78,512, reinforcing a longer-term bullish structure.
BITCOIN NETWORK ACTIVITY ON-CHAIN DEMAND MARKET DYNAMICS MEMPOOL
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